GIFT NIFTY Gaps Down 130 Points Into Session II as European Indices Trade Lower

GIFT NIFTY reopened for Session II at 23,078, gapping down 129.5 points or 0.56% from the Session I close of 23,207.5. The index slipped into the evening session as European bourses traded in negative territory through the mid-afternoon hours.

The gap lower erased most of the day's gains against the previous day's close of 23,097.5. GIFT NIFTY opened Session I at 23,331.5 in the morning and touched a day high of 23,332.5 before retreating through both sessions. The index was trading at 23,121.5 as of 19:10 IST, up just 24 points or 0.1% from the previous day.

European Markets Drive Session II Tone

European indices were uniformly lower in mid-session trading, setting a cautious tone for GIFT NIFTY's reopening. The DAX 40 was down 152.62 points or 0.60% at 25,274.17, while the CAC 40 declined 0.86% to 8,053.73. The FTSE 100 edged down 0.06% to 10,698.58, showing relative resilience compared to its continental peers.

The Euro Stoxx 50, tracking major Eurozone companies, fell 0.39% to 6,299.82. The index, which covers supersector leaders across the currency bloc, closed at 6,324.72 and has a 52-week high of 6,577.20. European stocks came under pressure amid a surge in sovereign bond yields, according to market reports.

The selloff was broad-based across the region. Germany's DAX faced steeper losses than the French or British benchmarks, with all three major continental bourses trading in the red by the time GIFT NIFTY reopened at 16:35 IST.

Session II Range and Outlook

GIFT NIFTY opened Session II at 23,078 and quickly established an early range between 23,074.5 and 23,098 in the first 15 minutes. The index has since recovered modestly to 23,121.5, staying below the Session I close. Session II runs until 02:45 AM IST, during which European markets will close around 21:30-22:00 IST, potentially bringing fresh volatility into the overnight hours.