GIFT NIFTY reopened for Session II at 24,212 on August 31, down 21.5 points or 0.09% from the Session I close of 24,233.5. The modest gap lower came despite European indices trading in positive territory through afternoon hours, with the DAX 40 leading regional gains.
The futures contract opened the evening session at the lower end of its early range, briefly testing 24,200 in the opening minutes before stabilizing around the 24,210 level. By 19:10 IST, GIFT NIFTY had recovered to 24,239.5, erasing the session gap and trading 13.5 points or 0.06% above the previous day's close of 24,226.
| Metric | Level |
|---|---|
| Session I Close | 24,233.5 |
| Session II Open | 24,212.0 |
| Gap | -21.5 (-0.09%) |
| Current LTP | 24,239.5 |
| Change vs Previous Day | +13.5 (+0.06%) |
| Day High | 24,297.0 |
| Day Low | 24,134.0 |
European Markets Provide Modest Support
European indices traded with moderate gains in mid-afternoon trade, providing a constructive backdrop for GIFT NIFTY's Session II reopening. The DAX 40 advanced 202.75 points or 0.77% to 26,569.99, while the CAC 40 Index gained 81.31 points or 0.98% to 8,401.18, according to European market data.
The FTSE 100 climbed 31.72 points or 0.29% to 10,824.26, trading near session highs as London markets headed toward the close. The Euro Stoxx 50, tracking Eurozone supersector leaders, added 60.94 points or 0.95% to 6,485.67 at the European close on August 28, with the index maintaining its recent strength heading into the final trading day of the month.
The Stoxx Europe 600 rose 0.6% to 655, reaching its highest level in nearly two weeks. German automakers contributed to the DAX's outperformance, with Volkswagen and Mercedes-Benz among the session's gainers as the broader European equity complex extended its recovery from earlier weekly losses.
GIFT NIFTY Session II Outlook
GIFT NIFTY is trading above its Session II opening level and has recovered the modest gap down from Session I. The contract remains within its day range of 24,134 to 24,297 established across both sessions. European markets will close during Session II hours, with the FTSE 100 shutting at 21:00 IST and continental bourses following at 21:30 IST, which could shift the trade dynamic as Asian overnight sentiment takes over through the 02:45 IST close.