GIFT NIFTY reopened for Session II at 22,267.5 at 16:35 IST, gapping down 52 points or 0.23% from the Session I close of 22,319.5. The opening marked a continuation of weakness that emerged in late Session I trading, with the index slipping further as European markets extended losses into their mid-session phase.
The 52-point gap lower pushed GIFT NIFTY to trade 40.5 points or 0.18% below Tuesday's close of 22,255.0. Early Session II action saw the index oscillate between 22,266.0 and 22,282.0 in the opening five-minute candle before settling at 22,273.0. By 19:10 IST, the index had drifted to 22,214.5, testing the day's low of 22,205.5 established earlier across both sessions.
European Markets Drive Session II Weakness
European indices were trading sharply lower in mid-session, providing negative cues for GIFT NIFTY's Session II open. The DAX 40 fell 344.83 points or 1.35% to 25,104.36, while the CAC 40 dropped 95.86 points or 1.22% to 7,769.21, according to data from global index platforms. The broader Euro Stoxx 50 declined 1.47% to 6,180.29 at the European close, reflecting broad-based selling across the continent.
The FTSE 100 joined the selloff, with European markets under pressure as traders continued to weigh rising inflation concerns and geopolitical tensions affecting commodity markets. The Euronext 100 Index fell 1.39% to 1,857.43, while Italy's FTSE MIB lost 640.67 points to 49,331.58 and Spain's IBEX 35 shed 197.40 points to 18,920.60.
Bond yields remained a focal point, with European government debt markets seeing volatility as rate concerns persisted. The synchronized decline across major European bourses—with all key indices down over 1%—created a cautious backdrop for GIFT NIFTY's evening session.
| GIFT NIFTY Session II Snapshot | Level | Change |
|---|---|---|
| Session I Close (15:35 IST) | 22,319.5 | — |
| Session II Open (16:35 IST) | 22,267.5 | -52.0 (-0.23%) |
| Session Gap | — | -52.0 points |
| Current LTP (19:10 IST) | 22,214.5 | — |
| Change vs Previous Day Close | — | -40.5 (-0.18%) |
| European Indices (Mid-Session) | Level | Change |
|---|---|---|
| DAX 40 | 25,104.36 | -344.83 (-1.35%) |
| CAC 40 | 7,769.21 | -95.86 (-1.22%) |
| Euro Stoxx 50 | 6,180.29 | -91.94 (-1.47%) |
| Euronext 100 | 1,857.43 | -26.26 (-1.39%) |
Session II Outlook
GIFT NIFTY is trading at 22,214.5 in early Session II action, near the day's low and down 0.18% from the previous close. Session II runs until 02:45 AM IST, with European markets set to close around 21:00-22:00 IST. Further direction will hinge on whether European indices stabilize or deepen losses into their closing hours, with crude oil and currency markets also in focus as the global evening session progresses.