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 recovery in investor sentiment following recent geopolitical tensions.
Asian markets rebounded on the same day, recovering from a sharp sell-off the previous day. This recovery was primarily supported by easing concerns surrounding energy prices, which had escalated due to the ongoing conflict in the Middle East. The drop in crude oil prices from around $100 per barrel to nearly $92 marked an intraday fall of almost 6%, contributing to the positive shift in market dynamics.
The Indian stock market had faced a challenging session on March 9, 2026, as the escalating US-Iran war triggered a surge in global crude oil prices, leading to heightened volatility. During this period, the India VIX jumped to 23.59, reflecting a more than 70% increase in just a week as geopolitical risks intensified.
Despite the recent sell-off, the outlook for the GIFT Nifty appears optimistic. Nifty futures on the NSE International Exchange were up by 271 points, or 1.12%, indicating a positive start for the domestic market. This upward trend suggests that investors are regaining confidence as geopolitical tensions show signs of de-escalation.
However, the market’s overall structure remains fragile. Nagaraj Shetti, a Senior Technical Research Analyst at HDFC Securities, noted that the bearish chart pattern, characterized by lower tops and bottoms, is still intact on both daily and weekly charts. This indicates that while there is a positive moment, caution is warranted as the market navigates through these turbulent times.
On March 9, provisional data indicated that Foreign Portfolio Investors (FPIs) turned net sellers of domestic stocks, amounting to Rs 6,345.57 crore. In contrast, Domestic Institutional Investors (DIIs) stepped in as net buyers, acquiring Indian equities worth Rs 9,013.80 crore. This divergence highlights the ongoing shifts in market dynamics as different investor groups respond to the evolving geopolitical landscape.
As the situation develops, analysts remain watchful of the potential impacts on the GIFT Nifty and the broader Indian stock market. While the immediate outlook appears positive, uncertainties persist regarding the geopolitical tensions and their long-term effects on global markets. Details remain unconfirmed, and further developments are anticipated in the coming days.
