GIFT NIFTY reopened for Session II at 24,057 at 16:35 IST on Wednesday, dipping 10.5 points or 0.04% from the Session I close of 24,067.5. The marginal gap lower extended the contract's intraday decline, which now stands at 44 points or 0.18% from the previous day's close of 23,994.5.
The near-flat session gap reflected subdued overnight cues, with GIFT NIFTY tracking sideways in the opening minutes. The contract slipped to 24,052.5 in the first five minutes before stabilizing. By 19:10 IST, GIFT NIFTY had slid further to 23,950.5, marking a day low of 23,937.5 and extending losses through the early evening session.
European Markets Provide Mixed Backdrop
European bourses traded higher in mid-session, with the Euro Stoxx 50 advancing 0.81% to 6,255.35 as of 10:18 AM GMT+2, according to available data. The index opened at 6,236.41 and climbed to an intraday high of 6,263.75, adding 50.44 points on the day. The Euro Stoxx 50 tracks blue-chip stocks across the Eurozone, representing a market capitalization exceeding €4 trillion.
Within the index, Bayer led gainers with a 1.89% rise to €50.58, while Allianz added 0.37% to €420.06 and Adidas traded at €179.73. BASF slipped 0.26% to €47.50. The broader European equity picture showed FTSE 100 volume at $3.66 billion, DAX at $2.43 billion, and CAC 40 at $2.83 billion, though specific index levels and percentage moves for these benchmarks were not disclosed in available data.
The positive bias in European equities provided limited support to GIFT NIFTY as Session II unfolded. Euro Stoxx 50 futures had advanced 1.1% in pre-market trading, signaling risk-on sentiment, but GIFT NIFTY's inability to hold the session open level pointed to domestic factors or profit-taking weighing on the contract.
Session II Snapshot
| Metric | Level |
|---|---|
| Session I Close | 24,067.5 |
| Session II Open | 24,057.0 |
| Session Gap | -10.5 (-0.04%) |
| Last Traded Price | 23,950.5 |
| Change vs Prev Close | -44.0 (-0.18%) |
| Day High | 24,164.0 |
| Day Low | 23,937.5 |
European Index Snapshot
| Index | Level | Change |
|---|---|---|
| Euro Stoxx 50 | 6,255.35 | +50.44 (+0.81%) |
| FTSE 100 | — | Data not available |
| DAX 40 | — | Data not available |
| CAC 40 | — | Data not available |
Outlook
GIFT NIFTY is now trading 107 points below the Session II open, with European markets set to close around 21:30-22:00 IST. The contract faces a critical test of the 23,900 level, with Session II running until 02:45 AM IST on Thursday. Further direction will hinge on whether European gains hold into the close and any late macro cues from the U.S. session.