GIFT NIFTY reopened for Session II at 23,973.5, gapping down 260.5 points or 1.07% from the Session I close of 24,234.0. The sharp downward gap reflected weakness across European markets, which had been trading for over three hours by the time Indian futures resumed at 16:35 IST.
The futures contract opened weak and extended losses in the first two bars, touching 23,880.0 before attempting a mild recovery. As of 19:10 IST, GIFT NIFTY was trading at 23,935.0, still down 1.2% from Session I close but holding 57 points or 0.24% above the previous day's close of 23,878.0.
| Metric | Level |
|---|---|
| Session I Close | 24,234.0 |
| Session II Open | 23,973.5 |
| Gap | -260.5 (-1.07%) |
| Current LTP | 23,935.0 |
| Change vs Previous Day | +57.0 (+0.24%) |
European Markets Drag Lower
European indices were trading in negative territory during their afternoon session, providing the primary cue for GIFT NIFTY's session gap. The FTSE 100 was down 165.33 points or 1.55% at 10,500.55 as of 10:07 AM London time, according to delayed quote data. The index had been under pressure throughout the European trading session.
The Euro Stoxx 50 declined 43.78 points or 0.69% to 6,276.08 as of mid-morning European time. The broader STOXX Europe 600 lost 0.5% to 647, while the Euro Stoxx 50 dropped 1.1% to 6,329 in separate reporting. Technology stocks led the declines, with ASML sinking 7.3% and Infineon plunging 8.3%, tracking weakness in AI hardware-related names.
The DAX showed losses of 352.64 points or 1.37% to 25,465.25 in one data snapshot, reflecting broad-based selling across German equities. The CAC 40 opened at 8,389.29 and traded in a range down to 8,245.54 during the session.
| Index | Level | Change |
|---|---|---|
| FTSE 100 | 10,500.55 | -165.33 (-1.55%) |
| Euro Stoxx 50 | 6,276.08 | -43.78 (-0.69%) |
| DAX | 25,465.25 | -352.64 (-1.37%) |
| CAC 40 | 8,245.54 - 8,389.29 | Range |
Session II Outlook
GIFT NIFTY was trading near 23,935.0 in early Session II dealings, having bounced modestly from the opening lows near 23,880.0. The contract set a day low of 23,812.5 across both sessions, now trading roughly 120 points above that level. European markets will remain open until around 21:00-22:00 IST, and their late-session moves could influence GIFT NIFTY direction through the remainder of Session II, which runs until 02:45 AM IST.