GIFT NIFTY reopened for Session II at 23,173, gapping down 63.5 points or 0.27% from the Session I close of 23,236.5. The opening marked a weaker start to the evening session, with the index testing 23,170.5 in the first candle before recovering to 23,203.5.
The gap lower extended GIFT NIFTY's retreat from the day's high of 23,588.5 reached during Session I. Despite the Session II opening weakness, the index remained 68.5 points or 0.3% above the previous day's close of 23,203, supported by Session I gains earlier in the day. By 19:10 IST, GIFT NIFTY had clawed back to 23,271.5, trading 98.5 points above the Session II open.
European Markets Drive Session II Tone
European equities were under pressure in mid-session trading as Session II commenced, providing a cautious backdrop for GIFT NIFTY. The FTSE 100 slipped 35.17 points or 0.34% to 10,269.98 as of 10:47 AM GMT, extending declines from the opening bell. The London benchmark fell as much as 0.46% to 10,257.58 during the session.
Continental bourses fared worse. Germany's DAX tumbled 91.28 points to 23,498.37, while France's CAC 40 dropped 38.37 points to 7,946.07. Alternative data showed the DAX down 0.83% at 23,393.84 and the CAC 40 off 0.90% at 7,912.81 in concurrent trading. The broader Euro Stoxx 50 declined 0.9% to 5,744, reflecting the region-wide selloff.
Losses extended to other European indices, with Italy's FTSE MIB sliding 45.80 points to 44,410.38 and Spain's IBEX 35 falling 41.90 points to 17,098.00. The pan-European STOXX 600 shed 0.7% to 599, underscoring the broad-based weakness across sectors and geographies. The declines came as oil prices remained elevated, adding to pressure on European equities.
Session II Trading Range
GIFT NIFTY is currently trading at 23,271.5, having recovered 98.5 points from the Session II open of 23,173. The index has established an intraday range between 23,129.5 and 23,588.5 across both sessions. With Session II extending until 02:45 AM IST and European markets set to close around 21:00-22:00 IST, further directional cues will emerge as London and continental trading concludes.
| Metric | Level |
|---|---|
| Session I Close | 23,236.5 |
| Session II Open | 23,173.0 |
| Session Gap | -63.5 (-0.27%) |
| Current LTP | 23,271.5 |
| Change vs Previous Day | +68.5 (+0.3%) |
| Day High | 23,588.5 |
| Day Low | 23,129.5 |
| Index | Level | Change |
|---|---|---|
| FTSE 100 | 10,269.98 | -35.17 (-0.34%) |
| DAX | 23,498.37 | -91.28 |
| CAC 40 | 7,946.07 | -38.37 |
| Euro Stoxx 50 | 5,744 | -0.9% |
| STOXX 600 | 599 | -0.7% |