GIFT NIFTY Gaps Down 38 Points Into Session II Tracking Weak European Markets

GIFT NIFTY reopened for Session II at 24,378.5 at 16:35 IST on April 20, 2026, gapping down 38 points or 0.16% from the Session I close of 24,416.5. The index slipped further in early Session II trade, touching 24,355.5 in the opening five-minute candle before settling at 24,364.0.

The negative gap reflected weakness in European markets, which had been trading for over three hours by the time Session II commenced. At 19:10 IST, GIFT NIFTY was trading at 24,313.0, down 28.5 points or 0.12% from the previous day's close of 24,341.5.

European Markets Trade Lower

European indices were trading under pressure during Session II's opening window, providing the primary directional cue for GIFT NIFTY. The FTSE 100 was down 0.63% to 0.65%, trading between 10,597.84 and 10,601.35 depending on the data source timestamp. The DAX 40 showed steeper losses, falling 1.37% to 1.55% and trading around 24,318.93 to 24,364.47.

The CAC 40 declined 1.08% to 1.12%, trading in the 8,331.09 to 8,336.43 range. The broader Euro Stoxx 50 index was down 1.34%, trading at 5,976.46 as of mid-session European time. All four major European benchmarks were in negative territory, with German equities showing the sharpest declines.

The broad-based selloff across European markets suggested risk-off sentiment during the European trading window. The weakness extended across the continent, with no major divergence visible between UK, German, and French indices.

Session II Outlook

GIFT NIFTY was trading at 24,313.0 as of 19:10 IST, having drifted lower from the Session II opening level of 24,378.5. The index has established an intraday range between 24,503.0 and 24,264.0 across both sessions. Session II runs until 02:45 AM IST, with European markets scheduled to close around 21:00-22:00 IST, which could influence late-session moves.