Gift Nifty Holds Above 23,300 in Tuesday Evening Session, Points to Green Open for Indian Markets on Wednesday

Mumbai, June 9: Indian equity markets are poised for a positive start on Wednesday, June 10, with Gift Nifty futures holding above the 23,300 mark in Tuesday’s extended evening session, building on a strong close in the domestic market.  

The near-month Gift Nifty futures contract for the June 30, 2026 expiry was last seen at 23,303 — with the July 28, 2026 contract quoted at 23,350 — as the session remained active at the time of writing.  

The intraday journey was notably volatile: the contract opened at 23,324.5 and briefly touched a high of 23,325 before a sharp mid-session selloff dragged prices down to a session low of 23,084, a drop of roughly 240 points from the open. However, buyers stepped in steadily through the afternoon, pushing the contract back above 23,300 to where it trades now.  

The V-shaped recovery — with prices retracing the bulk of the intraday decline without breaching the critical 23,000 level — reinforces the underlying buying support and sets up a constructive signal for Wednesday’s opening bell. 

Gift Nifty 

Gift Nifty futures for the June 30, 2026 expiry were trading at 23,303 in Tuesday’s evening session, pointing to a positive start for Indian benchmarks on Wednesday. The July 28 expiry contract was simultaneously quoted at 23,350, suggesting the forward curve retains a modest upward tilt.  

The session’s price action is best read as a test of support that held: after opening near 23,325 and slipping as low as 23,084 in the mid-session dip, the contract clawed back ground steadily to settle back above the 23,300 zone. Notably, the 23,000 level — which represents maximum Put open interest for the weekly expiry on June 11 and is widely watched as the near-term floor for the Nifty 50 — was never seriously threatened during the sell-off. Gift Nifty’s ability to hold above that threshold and recover toward the day’s opening level is the most meaningful takeaway for traders positioning for Wednesday, as it signals that dip-buying remains intact and the market has absorbed the recent week’s macro noise. 

Indian Markets: Tuesday Closing 

Indian benchmark indices closed firmly in the green on Tuesday, June 9, reflecting the improved global sentiment from Monday’s Wall Street recovery. The BSE Sensex rose 394.50 points or 0.54% to settle at 73,918.76, while the NSE Nifty 50 gained 119.10 points or 0.52% to close at 23,242.10 as of 15:30 IST. The gains were broad-based and came as a welcome turnaround after the prior week’s sustained pressure, with the Sensex and Nifty both recovering ground lost during Monday’s gap-down session.  

The positive close provides an encouraging domestic foundation for Wednesday’s open, particularly as Gift Nifty’s evening session is echoing that optimism — holding above 23,300 and above Tuesday’s market Nifty close of 23,242.  

Source

• https://www.nseix.com/