Session II Opens Lower Tracking Mixed European Cues
GIFT NIFTY reopened for Session II at 24,077.5 on Monday evening, down 43 points or 0.18% from the Session I close of 24,120.5. The overnight futures contract dipped to 24,056.0 in the opening minutes before steadying around 24,107.5 by 19:10 IST, marginally above the previous day's close of 24,096.5.
The modest gap lower came as European bourses traded mixed in mid-session. While Germany's DAX advanced, French and British benchmarks showed weakness, offering no clear directional cue for the Indian derivative ahead of a long overnight session that runs until 02:45 AM IST.
| Metric | Level |
|---|---|
| Session I Close | 24,120.5 |
| Session II Open | 24,077.5 |
| Session Gap | -43.0 (-0.18%) |
| Current LTP | 24,107.5 |
| Change vs Previous Day | +11.0 (+0.05%) |
| Day High | 24,146.0 |
| Day Low | 23,910.0 |
European Markets Send Conflicting Signals
Germany's DAX Index climbed 1.08% to 24,251.45 in mid-afternoon trading in Frankfurt, shrugging off earlier weakness. The blue-chip index added 260 points, finding support despite lingering geopolitical concerns that had weighed on sentiment in recent sessions.
France's CAC 40 Index, however, moved in the opposite direction. The Paris benchmark fell 1.71% to 7,976.12, shedding 138 points as banking and consumer stocks came under pressure. The FTSE 100 in London declined 0.14% to 10,363.93, down nearly 15 points in lacklustre trading.
The Euro Stoxx 50, the broad gauge of eurozone blue-chips, dropped 2.00% to 5,763.61 at the European close, reflecting the drag from French and other continental markets. The divergence between Germany and the rest of Europe left Session II participants without a clear macro steer.
GIFT NIFTY Steadies After Early Wobble
After gapping down at the Session II bell, GIFT NIFTY found buyers around the 24,060 mark and climbed back above 24,100 within the first half-hour of trading. The contract was last at 24,107.5, just 13 points below the Session I close and holding a slim 11-point gain over the previous day's settlement.
European markets are scheduled to close between 21:00-21:30 IST, after which Session II will trade solely on US-related cues and positioning flows until the early morning close at 02:45 AM.