GIFT Nifty Falls 150 Points ; Here’s Why

On Thursday, Indian equity benchmarks ended marginally higher, with the benchmark Nifty 50 index gaining 34.35 points, or 0.14 per cent, to close at 24,056.00. However, GIFT Nifty was trading at around 23,963, down 152 points or 0.63 per cent from its previous close during early Friday trade, indicating weak global sentiment. Indian equity markets, however, will remain closed on Friday, June 26, 2026, on account of the Muharram public holiday.

Indian Markets Closed For Muharram; GIFT Nifty Signals Weak Global Mood

Trading across the National Stock Exchange (NSE) and BSE will remain suspended on Friday, June 26, due to the Muharram holiday. Despite the domestic market closure, GIFT Nifty continued to trade at the NSE International Exchange (NSE IX) and reflected weakness in global equities, suggesting cautious sentiment after a sharp overnight decline in US technology stocks.

Previous Session Review

In the previous trading session on Thursday, June 25, benchmark indices ended with modest gains after witnessing volatility throughout the day. The BSE Sensex rose 89 points to settle at 77,080.47, while the Nifty 50 added 34.35 points to close at 24,056.00. Broader markets underperformed the benchmarks, with the Nifty Midcap index ending lower, while the Nifty Metal index declined around 1 per cent amid weakness in global commodity prices.

Wall Street Mixed As Technology Stocks Weigh On Nasdaq

US markets closed mixed overnight, with technology stocks coming under pressure. The Dow Jones Industrial Average gained 0.14 per cent, while the S&P 500 ended largely unchanged. The Nasdaq Composite declined 0.46 per cent as weakness in major technology companies offset strong earnings from Semiconductor firms.

Apple fell 6.1 per cent after announcing price hikes for iPads and MacBooks to offset rising component costs, wiping out nearly $250 billion in market capitalisation in a single session. Nvidia, Microsoft and Alphabet also traded lower as investors questioned the sustainability of elevated artificial intelligence-related capital expenditure.

In contrast, Micron Technology surged nearly 16 per cent after issuing stronger-than-expected revenue guidance. Sandisk jumped 22 per cent, while Qualcomm, Western Digital and Seagate also posted strong gains, supported by continued demand for AI-related semiconductor products.

Asian Markets Trade Lower

Asian markets mirrored the weak sentiment from Wall Street. Japan's Nikkei declined around 3 per cent, while South Korea's Kospi fell approximately 3.5 per cent. Hong Kong's Hang Seng and China's CSI 300 also traded lower. The MSCI Asia-Pacific index excluding Japan retreated from its recent record highs, while Nasdaq futures slipped around 0.6 per cent during Asian trading hours, indicating continued pressure on technology stocks.

Crude Oil Extends Decline

Crude oil prices continued to soften as geopolitical concerns eased following the resumption of tanker movement through the Strait of Hormuz. Brent crude traded around $75 per barrel, while US West Texas Intermediate remained below $72 per barrel. Both benchmarks are on track to register weekly declines of nearly 7 per cent.

Lower crude prices are positive for India as they help reduce inflationary pressures and lower the country's import bill, although global equity markets continue to remain cautious amid concerns over technology sector valuations and the US interest rate outlook.

Institutional Activity

Foreign Institutional Investors (FIIs) remained net sellers on June 25, offloading equities worth Rs 384 crore. Domestic Institutional Investors (DIIs) continued to provide support, recording net purchases of Rs 5,748 crore during the session.

On a YTD basis, FIIs have remained net sellers of approximately Rs 3.46 lakh crore, while DIIs have made net purchases of around Rs 4.57 lakh crore, helping cushion domestic markets from persistent foreign selling.
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What are your thoughts on the GIFT Nifty signal and the impact of global tech weakness on Indian markets? Share your views in the comments below.

Disclaimer: The article is for informational purposes only and not investment advice.