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 signals a gap-up opening for the Indian stock market, reflecting a rebound in investor sentiment following recent global market fluctuations.
Asian markets rebounded on the same day, recovering from a sharp sell-off that occurred on Monday. This recovery was largely supported by easing concerns surrounding energy prices, which had previously escalated due to geopolitical tensions in the Middle East. Crude oil prices, which had surged to around $100 per barrel, fell significantly to nearly $92, marking an intraday drop of almost 6%.
The Indian stock market faced a challenging session on Monday, primarily due to escalating tensions from the ongoing US-Iran conflict, which triggered a spike in global crude oil prices. This geopolitical instability contributed to a surge in the India VIX, which jumped to 23.59, reflecting a more than 70% increase in volatility over the past week.
Despite the recent turmoil, the outlook for the Indian equity markets appears to be improving. According to Hariprasad K, a SEBI-registered Research Analyst, “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 is echoed by the performance of Nifty futures on the NSE International Exchange, which were up by 271 points or 1.12%, indicating a favorable start for the domestic market.
However, the recent sell-off has also led to significant shifts in investor behavior. Provisional data indicates that Foreign Portfolio Investors (FPIs) turned net sellers of domestic stocks, offloading shares worth Rs 6,345.57 crore on Monday. In contrast, Domestic Institutional Investors (DIIs) capitalized on the dip, emerging as net buyers with purchases totaling Rs 9,013.80 crore.
While the immediate outlook appears positive, analysts caution that the overall structure of the market remains weak. Nagaraj Shetti, a Senior Technical Research Analyst at HDFC Securities, noted, “The overall structure of the market remains weak and the bearish chart pattern like lower tops and bottoms is intact on the daily and weekly charts.” This assessment suggests that while there may be short-term gains, the long-term trajectory could still face challenges.
The conflict in the Middle East had already dragged the Nifty 50 and Sensex to their worst weekly performance in more than a year. As global markets stabilize, the focus will be on how the Indian market responds in the coming days. Investors are keenly watching for further developments that could influence market dynamics.
Details remain unconfirmed regarding the sustainability of this upward trend in the GIFT Nifty and the broader implications for the Indian stock market as geopolitical tensions continue to evolve.
