GIFT NIFTY Opens Session II Nearly Unchanged
GIFT NIFTY reopened for Session II at 24,198.0 at 16:35 IST on August 24, a marginal gap of 9.5 points (0.04%) above the Session I close of 24,188.5. The index opened flat despite positive cues from European markets, which were trading in the green through the afternoon.
The near-flat gap extended GIFT NIFTY's muted tone from Session I, which saw the contract retreat from its day high of 24,385.0 touched earlier in the morning session. The index remains down 27.5 points (0.11%) for the day at 24,183.5 as of 19:10 IST, tracking below the previous day's close of 24,211.0.
| Metric | Level |
|---|---|
| Session I Close | 24,188.5 |
| Session II Open | 24,198.0 |
| Session Gap | +9.5 (+0.04%) |
| Current LTP | 24,183.5 |
| Day High | 24,385.0 |
| Day Low | 24,180.0 |
| Change vs Previous Close | -27.5 (-0.11%) |
European Indices Provide Supportive Backdrop
European markets were trading higher through the mid-session window as GIFT NIFTY reopened, providing a constructive global cue. The FTSE 100 was up 68.36 points (0.64%) at 10,816.56, while the DAX gained 0.59% to 26,136.56. The CAC 40 advanced 31.34 points (0.37%) to 8,484.43, and the Euro Stoxx 50 added 40.16 points (0.63%) to 6,462.22.
The gains across major European indices suggested a risk-on tone in developed markets, though GIFT NIFTY's tepid response indicated traders were cautious about chasing the rally into the evening session. The Euronext 100 Index rose 5.38 points (0.28%) to 1,938.94, contributing to the broader European strength.
European markets have been trading for over three hours by the time Session II opened, with the FTSE 100 and DAX showing consistent momentum through the afternoon. The STOXX Europe 600 was reported higher by 0.5% to 653, reflecting broad-based participation across the region.
| Index | Level | Change |
|---|---|---|
| FTSE 100 | 10,816.56 | +68.36 (+0.64%) |
| DAX | 26,136.56 | +0.59% |
| CAC 40 | 8,484.43 | +31.34 (+0.37%) |
| Euro Stoxx 50 | 6,462.22 | +40.16 (+0.63%) |
Session II Range Remains Tight
GIFT NIFTY traded within a narrow 16-point range in the first 15 minutes of Session II, oscillating between 24,190.5 and 24,199.5. The contract has since dipped to 24,183.5, testing the lower end of the day's range near 24,180.0. With European markets scheduled to close around 21:00-21:30 IST and Session II running until 02:45 AM IST, further directional cues will depend on how European indices finish and any overnight developments from global markets.