GIFT NIFTY Opens Session II Lower
GIFT NIFTY reopened at 23,783 for Session II at 16:35 IST on May 29, gapping down 70 points or 0.29% from the Session I close of 23,853. The opening marked a continuation of the cautious tone that emerged in the final minutes of Session I, which had ended 37 points lower from its 15:25 IST level.
The benchmark index is trading 11.5 points or 0.05% below the previous day's close of 23,722.5, with the day's cumulative range spanning from 24,018.5 to 23,662.5 across both sessions. At 19:10 IST, GIFT NIFTY was trading at 23,711, down 72 points from the Session II open.
| GIFT NIFTY Session II Snapshot | Level | Change |
|---|---|---|
| Session I Close (15:35 IST) | 23,853.0 | — |
| Session II Open (16:35 IST) | 23,783.0 | -70.0 (-0.29%) |
| Current LTP (19:10 IST) | 23,711.0 | -142.0 (-0.59%) |
| Change vs Previous Day Close | 23,722.5 | -11.5 (-0.05%) |
European Markets Trade in the Red
European equity indices were trading lower during GIFT NIFTY's Session II open, providing a negative backdrop for the evening session. The FTSE 100 declined 79.05 points or 0.75% to 10,425.96, marking the sharpest fall among major European benchmarks. Germany's DAX slipped 121.95 points or 0.48% to 25,055.85, while France's CAC 40 shed 41.37 points or 0.50% to 8,166.52.
The broader Euro Stoxx 50 index, representing Eurozone blue-chip stocks, fell 15.43 points or 0.25% to 6,055.11 at its close. The CAC 40 had opened at 8,172.80 earlier in the session before drifting lower, while mid-session data showed the index trading down 19.02 points or 0.23% at 8,188.87.
The weakness across European bourses comes as traders navigate concerns around interest rate dynamics and macro uncertainty, though specific sectoral drivers remained unclear from available market data. European markets have been trading for over three hours by the time GIFT NIFTY's Session II commenced, establishing a clear directional bias for the evening session.
Session II Outlook
GIFT NIFTY opened Session II within a tight 18.5-point range between 23,769.5 and 23,788.0 in the first five minutes, with early trading remaining subdued. Session II will continue until 02:45 AM IST on May 30, with European markets scheduled to close around 21:00-22:00 IST, potentially bringing further volatility as global cues evolve through the overnight session.