GIFT NIFTY reopened for Session II at 24,080 on July 16, down 45.5 points or 0.19% from the Session I close of 24,125.5. The negative gap extended the index's modest decline from the previous day close of 24,095, bringing the cumulative intraday loss to 18.5 points or 0.08% as of 7:10 PM IST.
The Session II open reflected muted cues from European bourses, which were trading lower in mid-session ahead of the GIFT NIFTY restart. The Euro Stoxx 50 slipped 0.23% to 6,265.58 as of 5:50 PM GMT, trading in a 6,255.60 to 6,296.04 range. By 11:24 AM GMT+2, the index pared some losses and was down 0.11% at 6,258.92, but the undertone remained cautious.
Specific levels for the FTSE 100, DAX 40, and CAC 40 were not immediately available in market data feeds, though the broad European index weakness suggested the major bourses were trading mixed to lower. The Euro Stoxx 50's decline set a subdued tone for GIFT NIFTY's afternoon session, with no catalyst emerging from the Eurozone to lift sentiment.
| Metric | Level |
|---|---|
| Session I Close | 24,125.5 |
| Session II Open | 24,080.0 |
| Gap (Points) | -45.5 |
| Gap (%) | -0.19% |
| LTP (7:10 PM IST) | 24,076.5 |
| Change vs Prev Close | -18.5 (-0.08%) |
| Day High | 24,209.0 |
| Day Low | 24,033.5 |
GIFT NIFTY traded narrowly in the opening minutes of Session II, with the first candle at 16:35 printing a high of 24,092.5 and a low of 24,078.5 before closing at 24,080. The index recovered marginally in subsequent candles, climbing to 24,094 by 16:45, but remained below the Session I close. The index was last at 24,076.5, hovering near the session open.
The day's trading range of 24,033.5 to 24,209.0 spanned both Session I and Session II, with the high reached during the morning session and the low tested in early Session II. Session II will run until 2:45 AM IST on July 17, with European markets scheduled to close around 9:30-10 PM IST, potentially removing a key directional cue for the latter half of the session.
| European Index | Level | Change |
|---|---|---|
| Euro Stoxx 50 | 6,265.58 | -14.61 (-0.23%) |
| Euro Stoxx 50 (later) | 6,258.92 | -6.66 (-0.11%) |
With European equities inching lower and no fresh macro catalysts evident, GIFT NIFTY's Session II trajectory will hinge on whether the index can reclaim the 24,100 mark or slips toward the day's low of 24,033.5. The modest gap-down open and lacklustre European backdrop suggest rangebound trade is likely in the hours ahead.