GIFT NIFTY Gaps Up 79.5 Points Into Session II Tracking European Rally

GIFT NIFTY reopened for Session II at 24,019.0, gapping up 79.5 points or 0.33% from the Session I close of 23,939.5. The index opened with modest strength at 16:35 IST, reflecting positive momentum from European markets trading in mid-session.

The gap higher followed a subdued close to Session I, which ended near the day's low. At 19:10 IST, GIFT NIFTY was trading at 24,080.5, up 61.5 points from the Session II open and gaining ground through the early hours. The day's overall change remained marginally negative at -9.5 points or 0.04% versus the previous day close of 24,090.0.

European Markets Drive Session II Strength

European indices provided the primary cue for GIFT NIFTY's Session II gap up, with the DAX 40 advancing 116.47 points or 0.47% to 25,143.27 by mid-session. Germany's benchmark index led continental gains, supported by strength in heavyweight sectors.

France's CAC 40 Index rose 25.17 points or 0.30% to 8,493.15, while the FTSE 100 Index edged up 11.34 points or 0.11% to 10,411.04. Italy's FTSE MIB Index outperformed with a gain of 273.29 points or 0.52% to 52,961.51, while Spain's IBEX 35 Index bucked the trend, slipping 42.80 points or 0.22% to 19,361.30.

The broader Euro Stoxx 50 Index added 6.49 points or 0.10% to 6,329.76 by mid-morning European trading. The index, which tracks blue-chip Eurozone stocks, traded in a range of 6,313.16 to 6,328.22 after opening at 6,321.31.

GIFT NIFTY Session II Outlook

GIFT NIFTY has held above the 24,000 mark through the first two hours of Session II, with the index trading at 24,080.5 as of 19:10 IST. The day high of 24,107.0 was recorded earlier in Session II, while the day low of 23,933.0 came during Session I. Session II runs until 02:45 AM IST, with European markets scheduled to close around 9-10 PM IST, which could influence the index's trajectory through late trading.