GIFT Nifty Shows Positive Momentum
The GIFT Nifty index experienced a notable increase of 392.50 points or 1.63%, reaching 23,405.50 on March 10, 2026. This surge indicates a gap-up opening for the Indian stock market, suggesting a rebound from recent volatility.
The positive movement in the GIFT Nifty comes in the wake of a recovery in Asian markets, which rebounded following a sharp sell-off the previous day. The easing concerns surrounding energy prices, particularly crude oil, have contributed to this shift. Crude oil prices fell from approximately $100 per barrel to nearly $92, marking an intraday decline of almost 6%.
Prior to this recovery, the Indian stock market faced significant pressure due to escalating geopolitical tensions, particularly the ongoing US-Iran conflict, which had caused a spike in global crude oil prices. This situation led to a sell-off session on Monday, where the India VIX surged to 23.59, reflecting a more than 70% increase in just a week as investors reacted to heightened geopolitical risks.
Despite the positive signals from the GIFT Nifty, the market’s overall structure remains fragile. Nagaraj Shetti, a Senior Technical Research Analyst at HDFC Securities, noted that the bearish chart patterns, characterized by lower tops and bottoms, continue to persist on both daily and weekly charts. This indicates that while there may be short-term gains, the long-term outlook may still be uncertain.
On the futures front, Nifty futures on the NSE International Exchange were also up by 271 points, or 1.12%, at 24,393.50, hinting at a positive start for the domestic market. However, provisional data indicated that Foreign Portfolio Investors (FPIs) were net sellers of domestic stocks, offloading shares worth Rs 6,345.57 crore on Monday. In contrast, Domestic Institutional Investors (DIIs) stepped in as net buyers, acquiring equities worth Rs 9,013.80 crore.
Hariprasad K, a SEBI-registered Research Analyst, commented on the market’s trajectory, stating, “Indian equity markets are poised for a positive start as global risk sentiment improves following signs that geopolitical tensions in the Middle East may be nearing de-escalation.” This sentiment reflects a cautious optimism among investors, who are closely monitoring the evolving geopolitical landscape.
While the GIFT Nifty’s rise signals a potential recovery, the underlying uncertainties related to geopolitical tensions and market dynamics remain. Investors are advised to stay vigilant as the situation develops, particularly in light of the recent volatility and mixed signals from institutional investors.
Details remain unconfirmed regarding the sustainability of this upward trend, and market participants are encouraged to keep an eye on further developments that may impact the GIFT Nifty and the broader Indian stock market.
