GIFT NIFTY reopened for Session II at 23,766 on May 22, marking a gap down of 51.5 points or 0.22% from the Session I close of 23,817.5. The index extended its decline into evening trade, slipping to 23,702 by 7:10 PM IST, down 63 points or 0.27% from the previous day's close of 23,765.
The negative gap came despite mixed signals from European bourses, which had been trading for over three hours by the time GIFT NIFTY Session II commenced at 4:35 PM IST. Sentiment across European markets remained tentative, with no clear directional thrust emerging by mid-session.
European Market Snapshot
| Index | Level (Close May 21) | Change |
|---|---|---|
| FTSE 100 | 10,443.47 | +11.13 (+0.11%) |
| EURO STOXX 50 | 5,960.32 | -15.75 (-0.26%) |
The FTSE 100 edged marginally higher in the previous session, adding 11.13 points to close at 10,443.47, a gain of just 0.11%. The EURO STOXX 50, tracking 50 blue-chip companies across twelve euro area nations, declined 15.75 points or 0.26% to settle at 5,960.32. Current mid-session data for May 22 was not available in accessible sources, leaving the Session II open to trade on the backdrop of the prior day's cautious tone.
The lack of decisive momentum in European equities reflected ongoing uncertainty over interest rate trajectories and macroeconomic conditions across the continent. With no fresh catalyst emerging from London or Frankfurt trading floors during the early European afternoon, GIFT NIFTY faced a subdued external environment as it entered the evening session.
GIFT NIFTY Session II Snapshot
| Metric | Level |
|---|---|
| Session I Close | 23,817.5 |
| Session II Open | 23,766.0 |
| Session Gap | -51.5 (-0.22%) |
| Current LTP (7:10 PM IST) | 23,702.0 |
| Change vs Prev Day Close | -63.0 (-0.27%) |
| Day High | 23,844.5 |
| Day Low | 23,613.0 |
After opening at 23,766, GIFT NIFTY tested an early high of 23,790 in the first five minutes before retreating. By the 16:45 IST candle, the index had slipped to 23,761.5, extending the gap-down move. As of 7:10 PM IST, the index was trading at 23,702, having breached the day's low of 23,613 set earlier during Session I. The intraday range of 231.5 points underscored continued volatility across both sessions.
Session II will continue until 2:45 AM IST on May 23, during which European markets are scheduled to close around 9:00-10:00 PM IST. Further price action will hinge on whether European indices manage to recover into their respective closes or extend the subdued trend into the final hours of continental trade.