GIFT NIFTY Session II Opening
GIFT NIFTY reopened for Session II at 23,439 at 16:35 IST on June 04, edging up 15 points or 0.06% from the Session I close of 23,424. The near-flat gap came as European indices traded mixed through their mid-session, with the Euro Stoxx 50 and CAC 40 under pressure while broader European markets showed resilience.
The index opened narrowly above Session I's final level and climbed to 23,446.5 in the opening five minutes before settling at 23,445.5. By 19:10 IST, GIFT NIFTY was trading at 23,498, up 18 points or 0.08% from the previous day's close of 23,480 and 59 points above the Session II open.
| Metric | Level |
|---|---|
| Session I Close | 23,424.0 |
| Session II Open | 23,439.0 |
| Session Gap | +15.0 (+0.06%) |
| Current LTP | 23,498.0 |
| Change vs Prev Close | +18.0 (+0.08%) |
| Day High | 23,512.0 |
| Day Low | 23,279.5 |
European Market Cues Weigh on Sentiment
European equity indices were trading lower through their mid-session as GIFT NIFTY reopened, providing cautious cues for Session II. The Euro Stoxx 50 declined 0.89% to close at 6,053.57 on June 03, according to delayed quotes, while the CAC 40 fell 0.71% to 8,150.42 at the close on the same day.
The Euro Stoxx 50, which tracks blue-chip Eurozone stocks, has been under pressure alongside the CAC 40, with both indices showing losses in their most recent sessions. The STOXX Europe 600 also declined 0.5% to 622 in recent trading, reflecting broader weakness across the European equity landscape.
The FTSE 100 and DAX 40, meanwhile, have shown relative resilience compared to their Eurozone counterparts. Market data indicates the Euro Area indices have been sluggish, while UK equities have displayed buying interest. The divergence suggests regional factors at play, with Eurozone markets facing headwinds that have not equally affected London-listed stocks.
Session II Outlook
GIFT NIFTY is trading 74 points above Session I close and holding near the day's high of 23,512. Session II runs until 02:45 AM IST, and European markets will close around 21:00-22:00 IST, which could bring further directional shifts as overnight US futures and Asian macro cues take over.