GIFT NIFTY reopened for its Session II at 24,128.5 at 16:35 IST on May 4, gapping down 47 points or 0.19% from its Session I close of 24,175.5. The index opened in negative territory despite trading 75.5 points or 0.31% higher on the day versus the previous close of 24,010.5.
The modest gap lower came as European markets presented a mixed picture three hours into their trading day. The DAX in Frankfurt was the standout performer, climbing 337.82 points or 1.41% to 24,292.38, according to European market data. The Euro Stoxx 50 index added 65.03 points or 1.12% to reach 5,881.51 at its close.
| Metric | Value |
|---|---|
| Session I Close | 24,175.5 |
| Session II Open | 24,128.5 |
| Gap | -47.0 (-0.19%) |
| LTP (19:10 IST) | 24,086.0 |
| Change vs Prev Close | +75.5 (+0.31%) |
The CAC 40 in Paris gained 42.71 points or 0.53% to 8,114.84, while London's FTSE 100 bucked the trend, slipping 14.89 points or 0.14% to 10,363.93. The divergence between continental European bourses and the UK market provided no clear directional cue for GIFT NIFTY's reopening.
Session II opened with an immediate 14-point drop from the 24,128.5 level, touching a low of 24,114.5 in the first five minutes before settling at 24,130.5. The index then rebounded sharply, with the second candle reaching 24,178.0 and the third candle climbing to 24,217.0 by 16:50 IST, erasing the session gap entirely.
| Index | Level | Change |
|---|---|---|
| DAX | 24,292.38 | +337.82 (+1.41%) |
| Euro Stoxx 50 | 5,881.51 | +65.03 (+1.12%) |
| CAC 40 | 8,114.84 | +42.71 (+0.53%) |
| FTSE 100 | 10,363.93 | -14.89 (-0.14%) |
As of 19:10 IST, GIFT NIFTY was trading at 24,086.0, maintaining its gain over the previous day's close but below the Session II opening level. The day's cumulative range across both sessions has stretched from a low of 24,002.5 to a high of 24,363.5, a 361-point band. Session II trading continues until 02:45 AM IST, with European markets scheduled to close around 21:00-22:00 IST, which could bring further volatility as US market influence takes over in the later hours.