GIFT NIFTY reopened for Session II at 22,634.5 at 16:35 IST, gapping up 151.5 points or 0.67% from the Session I close of 22,483.0. The positive opening came despite broad-based declines across European markets, which have been trading for over three hours and served as the primary global cue for the evening session.
The index extended gains sharply through the early Session II candles, touching an intraday high of 23,202.0 and trading at 23,062.5 as of 19:10 IST. This marked a strong 597.5-point or 2.66% advance from the previous day's close of 22,465.0, suggesting domestic institutional flows and positioning ahead of week-end may be driving the divergence from European sentiment.
| GIFT NIFTY Session II Snapshot | Level | Change |
|---|---|---|
| Session I Close (15:35) | 22,483.0 | — |
| Session II Open (16:35) | 22,634.5 | +151.5 (+0.67%) |
| Current LTP (19:10 IST) | 23,062.5 | — |
| Day High | 23,202.0 | — |
| Day Low | 22,453.0 | — |
| Change vs Prev Close | — | +597.5 (+2.66%) |
European Markets Trade Lower Into Mid-Session
European indices were nursing sharp losses as GIFT NIFTY's Session II commenced, creating a stark contrast with the Indian derivative's upward momentum. The FTSE 100 was down 213.61 points or 2.15% at 9,704.72 as of 10:00 AM GMT (approximately 15:30 IST), according to delayed quote data from Yahoo Finance. Germany's DAX index fell 459.37 points or 2.01% to 22,380.19, while France's CAC 40 declined 142.25 points or 1.82% to 7,665.62 at the close of trading on March 20.
The broader Euro Stoxx 50 index dropped 112.55 points or 2.00% to 5,501.28 at the close on March 20, reflecting widespread risk-off sentiment across the eurozone. Market data showed the Euro Stoxx 50 trading range for the session extended from 5,500.83 to 5,687.19, with the index opening at 5,639.19 against a previous close of 5,613.83.
Sector-specific data from the European session remained limited in available market feeds, though the uniform decline across major indices suggested broad-based selling rather than concentrated sector weakness. Hermes International led decliners on the CAC 40 with a 4.66% drop, while Societe Generale also featured among notable fallers on the French benchmark.
GIFT NIFTY Outlook
GIFT NIFTY's resilience at 23,062.5 represents a significant decoupling from European direction, with the index holding well above the session gap level. Session II runs until 02:45 AM IST, and European markets will close around 21:00-22:00 IST, potentially reducing external volatility drivers through the latter half of the evening session.