GIFT NIFTY reopened for Session II at 22,634.5 at 16:35 IST, gapping up 191 points (0.85%) from Session I's close of 22,443.5. The index climbed further in early Session II trade, last quoted at 22,693.0 as of 19:10 IST.
The positive gap came as European markets extended gains into mid-session, providing supportive cues for the evening session. The day's cumulative move remains marginally negative, with GIFT NIFTY down 12 points (0.05%) from the previous day's close of 22,705.0, but the Session II bounce erased most of the day's earlier losses incurred during Session I.
| Metric | Level |
|---|---|
| Session I Close | 22,443.5 |
| Session II Open | 22,634.5 |
| Session Gap | +191.0 (+0.85%) |
| Current LTP | 22,693.0 |
| Change vs Prev Day | -12.0 (-0.05%) |
| Day High | 22,963.0 |
| Day Low | 22,250.0 |
European Markets Drive Session II Sentiment
European equity indices were trading higher in mid-session as GIFT NIFTY reopened, with the FTSE 100 up 1.85% at 10,364.79, adding 188.34 points, according to market data available at the time of the Session II open. The Euro Stoxx 50 had closed the previous session at 5,732.71, up 162.98 points (2.93%), providing a positive backdrop for risk sentiment heading into Asian evening trade.
The FTSE 100's rally extended gains from earlier in the week, with the index trading above the 10,300 level. European market participants appeared to be positioning ahead of key macro events later in the week, though specific sector drivers remained limited in available data. The CAC 40 also participated in the advance, with the index quoted at 7,981.27, up 164.33 points, while DAX data showed the index at 23,298.89 in recent sessions.
The coordinated move higher across major European bourses suggested broad-based risk appetite, which carried over into GIFT NIFTY's Session II opening. With European markets scheduled to close around 21:00-21:30 IST, well before GIFT NIFTY's Session II close at 02:45 IST, further cues from overnight US futures and Asian market sentiment will likely dictate the session's trajectory through the late evening and early morning hours.
Session II Early Range and Outlook
GIFT NIFTY's opening candle at 16:35 IST saw the index trade between 22,613.0 and 22,648.0, with the five-minute bar closing at 22,645.0. The subsequent candles showed continued buying interest, with the index pushing to an intraday high of 22,738.5 in the 16:45 candle. At 22,693.0, the index is trading 59.5 points above its Session II open, suggesting early momentum is being sustained into the evening session. Session II runs until 02:45 AM IST, and with European markets set to close during the session, overnight moves in global risk assets will determine whether the gap-up holds through to Thursday's Session I open.