Mumbai, June 8: Gift Nifty plunged 356 points, or 1.52%, to 23,091 in early trade, indicating a sharply negative opening for Indian equities on Monday amid broad-based weakness across global markets.
The sell-off was mirrored across major international indices. The Dow Jones Industrial Average fell 484.76 points (0.94%) to 51,098.17, while Dow Futures dropped 814.40 points (1.58%) to 50,747.90. The S&P 500 declined 200.50 points (2.63%) to 7,412.50.
Asian markets also traded lower, with Japan’s Nikkei 225 shedding 882.57 points (1.31%) to 66,588.12 and Hong Kong’s Hang Seng Index falling 291.45 points (1.15%) to 24,961.95.
Technical indicators for Gift Nifty remained weak, with the one-hour and one-day signals indicating a “Sell” trend. Key support levels are seen at 22,984 and 22,699, while resistance is placed around 23,458 and 23,647.
The sharp decline in Gift Nifty suggests investors may begin the week on a cautious note, with global risk sentiment, foreign fund flows, and overnight market developments likely to influence trading activity.
Market participants will closely watch domestic and international cues for further direction as volatility remains elevated across global equities.
