GIFT NIFTY reopened for Session II at 23,976.5 at 16:35 IST on March 09, marking a negligible gap of 10 points (0.04%) above the Session I close of 23,966.5. The near-flat restart came despite heavy selling across European markets, which had been trading for over three hours by the time the Singapore derivative contract resumed.
The index edged higher in early Session II trade, touching 23,995 in the opening five-minute candle before pulling back. As of 18:09 IST, GIFT NIFTY was trading at 24,016, still down 307 points (1.26%) from the previous day's close of 24,323. The day's cumulative range spanning both sessions stood at 23,661 to 24,199.
European Markets Drive Session II Sentiment
European bourses were deep in the red by mid-afternoon, providing a cautious backdrop for GIFT NIFTY's restart. The FTSE 100 tumbled 145.10 points to 10,139.65, down 1.41%, according to mid-session data. Germany's DAX fell 224.72 points to 23,591.03, while France's CAC 40 shed 165.39 points to 7,828.10, declining 2.07%.
The Euro Stoxx 50, Europe's blue-chip benchmark for the Eurozone, traded at 5,652.78, down from the previous close of 5,719.90. The index hit an intraday low of 5,543.42 before recovering slightly, reflecting broad-based pressure across the region's supersector leaders.
Other European indices mirrored the weakness. Italy's FTSE MIB slid 713.21 points to 43,439.05, while Spain's IBEX 35 dropped 300.20 points to 16,774.20. The synchronized selloff suggested region-wide concerns rather than isolated sector stress, though specific drivers remained unclear from available data.
GIFT NIFTY Session II Range
GIFT NIFTY's resilience relative to European peers was notable, with the index holding above the 24,000 mark in early Session II trading despite the overseas pressure. The contract runs until 02:45 AM IST on March 10, with European markets set to close around 21:30-22:00 IST, which could bring fresh volatility as liquidity thins.
| Metric | Level |
|---|---|
| Session I Close | 23,966.5 |
| Session II Open | 23,976.5 |
| Session Gap | +10.0 (+0.04%) |
| Current LTP | 24,016.0 |
| Change vs Prev Close | -307.0 (-1.26%) |
| Day High | 24,199.0 |
| Day Low | 23,661.0 |
European Indices Snapshot
| Index | Level | Change | % Change |
|---|---|---|---|
| FTSE 100 | 10,139.65 | -145.10 | -1.41% |
| DAX | 23,591.03 | -224.72 | — |
| CAC 40 | 7,828.10 | -165.39 | -2.07% |
| Euro Stoxx 50 | 5,652.78 | — | — |