GIFT NIFTY Session II Opens Higher Despite Marginal Day Loss
GIFT NIFTY reopened for Session II at 23,595 at 16:35 IST on June 2, marking a gap of 68 points or 0.29% above the Session I close of 23,527. The opening candle peaked at 23,605 before settling at 23,600, signalling a firm start to the evening session.
The positive session gap contrasted with the index's overall performance against the previous day close. GIFT NIFTY traded 14.5 points or 0.06% below the previous close of 23,579.5 as of 19:10 IST, with the day's range spanning 23,230 to 23,618 across both sessions combined. Session I had opened at 23,400.5 at 06:30 IST, and the index recovered through the morning before easing into the afternoon close.
| Metric | Level |
|---|---|
| Session I Close (15:35) | 23,527.0 |
| Session II Open (16:35) | 23,595.0 |
| Session Gap | +68.0 (+0.29%) |
| Current LTP (19:10 IST) | 23,565.0 |
| Change vs Previous Close | -14.5 (-0.06%) |
European Markets Trade Lower Mid-Session
European bourses were trading in negative territory by mid-session, providing a mixed backdrop for GIFT NIFTY's Session II open. The FTSE 100 slipped 0.68% to 10,338.95, while Germany's DAX declined 0.40% to 25,003.04 and France's CAC 40 fell 0.45% to 8,146.59, according to market data available at the time of the Session II open.
The declines in Europe's major indices came after the region's markets had started June with losses in the previous session. The STOXX 50 and STOXX 600 had both gained 0.6% on the prior trading day, but Monday's weakness appeared to carry over into Tuesday's session. The EURO STOXX 50 Index closed at 6,034.95 on June 1, down 15.59 points or 0.26%, setting a cautious tone for regional blue-chip stocks.
Despite the negative European cues, GIFT NIFTY's Session II gap higher suggested resilience, possibly supported by the index's intraday recovery from the day low of 23,230 hit during Session I. The opening momentum saw the first candle at 16:35 close at 23,600, though subsequent candles showed some softening with the 16:45 bar closing at 23,579.
Session II Outlook
GIFT NIFTY was trading at 23,565 as of 19:10 IST, having pared some of the session gap but holding above the Session I close. Session II runs until 02:45 AM IST on June 3, and European markets will close around 21:00-22:00 IST, which could influence late-session moves. The index's ability to hold the 23,550-23,600 zone through European close will be key to sustaining the opening gap.