GIFT NIFTY reopened for Session II at 23,689 on Thursday, gapping down 96.5 points or 0.41% from its Session I close of 23,785.5. The index opened under pressure at 4:35 PM IST, tracking weakness in European markets which had been trading lower through the afternoon.
The session gap marked a reversal from Session I's steady close near 23,785. Despite the opening weakness, GIFT NIFTY was trading at 23,735.5 as of 7:09 PM IST, up 73.5 points or 0.31% from the previous day's close of 23,662. The day's cumulative range across both sessions spanned 23,589.5 to 23,848.5.
European Markets Drive Session II Sentiment
European indices were firmly in the red by the time GIFT NIFTY reopened, providing the primary directional cue for Session II. The Euro Stoxx 50 fell 113.78 points or 1.92% to 5,821.18 by mid-afternoon European time, reflecting broad-based weakness across eurozone blue-chips.
Germany's DAX traded at 24,048, down 408.26 points, while France's CAC 40 dropped 108.22 points to 7,974.05. The FTSE MIB in Milan slid 882.99 points to 49,167.28, and Spain's IBEX 35 fell 247 points to 17,562.20. The selloff appeared widespread across European bourses with no single sector or macro trigger clearly identified in available market data.
Britain's FTSE 100 closed the European session at 10,372.93, up 47.63 points or 0.46%, providing a lone positive note among major European indices. The divergence between London and continental European markets suggested sector-specific or currency-related dynamics at play, though detailed drivers remained unclear from available data.
GIFT NIFTY Session II Snapshot
| Metric | Level |
|---|---|
| Session I Close | 23,785.5 |
| Session II Open | 23,689.0 |
| Session Gap | -96.5 (-0.41%) |
| Current LTP (7:09 PM IST) | 23,735.5 |
| Change vs Previous Day | +73.5 (+0.31%) |
European Indices Mid-Session Performance
| Index | Level | Change |
|---|---|---|
| Euro Stoxx 50 | 5,821.18 | -113.78 (-1.92%) |
| DAX | 24,048.00 | -408.26 |
| CAC 40 | 7,974.05 | -108.22 |
| FTSE 100 | 10,372.93 | +47.63 (+0.46%) |
| FTSE MIB | 49,167.28 | -882.99 |
Session II Outlook
GIFT NIFTY traded in a 23,688 to 23,727.5 range during the first 15 minutes of Session II before recovering some ground. Session II runs until 2:45 AM IST Friday, with European markets scheduled to close around 9:00 PM to 10:00 PM IST, which could shift intraday momentum as Asian hours deepen.