GIFT NIFTY reopened for Session II at 23,257 on June 11, gapping down 44 points or 0.19% from its Session I close of 23,301. The index extended its decline in early Session II trade, touching 23,221 in the opening five minutes before settling at 23,232.5 by 16:40 IST.
The negative gap came despite GIFT NIFTY trading flat versus its previous day close of 23,200.5 on a full-day basis. The index had rallied to a session high of 23,349.5 during Session I before giving up gains into the close. Session II opened in the lower half of the day's cumulative range of 23,034-23,349.5.
European Markets Show Divergent Trends
European indices presented a mixed picture as GIFT NIFTY entered Session II, with mainland bourses underperforming. Germany's DAX slipped 237.75 points or 0.97% to 24,195.31, while France's CAC 40 declined 41.60 points or 0.51% to 8,161.83, according to European market data. Italy's FTSE MIB fell 233.59 points to 50,029.17, and Spain's IBEX 35 shed 32 points to 18,142.70.
The Euro Stoxx 50, Europe's benchmark blue-chip index for the Eurozone, climbed 59.22 points or 0.99% to 6,069.17 as of 12:02 PM GMT+2, showing divergence between the pan-European gauge and individual country indices. The index opened at 6,014.73 and reached an intraday high of 6,061.36.
Market participants continued to monitor geopolitical developments and inflation concerns, with European equities navigating elevated interest rate pressures. The contrast between the Euro Stoxx 50's gains and the declines in DAX and CAC 40 suggested selective buying in specific sectors rather than broad-based market strength.
GIFT NIFTY Session II Snapshot
| Metric | Level |
|---|---|
| Session I Close | 23,301.0 |
| Session II Open | 23,257.0 |
| Session Gap | -44.0 (-0.19%) |
| Current LTP | 23,200.5 |
| Change vs Prev Day | 0.0 (0.0%) |
European Indices Mid-Session
| Index | Level | Change |
|---|---|---|
| DAX | 24,195.31 | -237.75 (-0.97%) |
| CAC 40 | 8,161.83 | -41.60 (-0.51%) |
| Euro Stoxx 50 | 6,069.17 | +59.22 (+0.99%) |
| FTSE MIB | 50,029.17 | -233.59 |
GIFT NIFTY was trading at 23,200.5 as of 7:09 PM IST, down 56.5 points from its Session II open. The index faces a long Session II ahead, running until 2:45 AM IST, with European markets set to close around 9-10 PM IST, which could bring further directional cues as liquidity thins.