GIFT NIFTY reopened for Session II at 24,242.5 at 16:35 IST on August 28, marking a negligible 2-point gap (0.01%) from Session I's closing level of 24,240.5. The near-flat open came as European equity markets traded firmly higher in mid-session, with the CAC 40 leading gains across major bourses.
The minimal session gap left GIFT NIFTY trading just 4.5 points (0.02%) above the previous day's close of 24,312.0, reflecting a muted start to evening trading. The index had spent Session I in a narrow 160.5-point range, with the day's low of 24,204.0 set during the morning session and the cumulative high of 24,364.5 reached across both sessions.
| GIFT NIFTY Session II Snapshot | Level |
|---|---|
| Session I Close | 24,240.5 |
| Session II Open | 24,242.5 |
| Session Gap | +2.0 (+0.01%) |
| Current LTP (19:10 IST) | 24,316.5 |
| Change vs Previous Day | +4.5 (+0.02%) |
| Day Range (Both Sessions) | 24,204.0 - 24,364.5 |
European Markets Rally Into Afternoon
European equity indices posted broad-based gains in mid-session trading, providing a constructive backdrop for GIFT NIFTY's Session II open. The CAC 40 led the advance, climbing 88.81 points (1.07%) to 8,408.68, while Germany's DAX 40 rose 142.98 points (0.54%) to 26,510.22. Britain's FTSE 100 added 28.43 points (0.26%) to 10,820.97, extending a modest uptick.
The Euro Stoxx 50, which tracks Eurozone supersector leaders, slipped 0.07% to €656.41, diverging from the stronger performance in national benchmark indices. The mixed showing across European bourses suggested selective sector rotation rather than uniform risk appetite. By the time GIFT NIFTY reopened, European markets had been trading for approximately three to three-and-a-half hours, with continental exchanges showing firmer momentum than London.
The variation in index performance — with the CAC 40's 1% gain sharply outpacing the FTSE 100's quarter-percent rise — indicated differing sector exposures and domestic factors were at play across European markets. No specific drivers for the rally were evident in available data, though the advance came ahead of key inflation readings due later in the week.
| European Indices (Midday) | Level | Change |
|---|---|---|
| FTSE 100 | 10,820.97 | +28.43 (+0.26%) |
| DAX 40 | 26,510.22 | +142.98 (+0.54%) |
| CAC 40 | 8,408.68 | +88.81 (+1.07%) |
| Euro Stoxx 50 | €656.41 | -0.07% |
Session II Early Trading
GIFT NIFTY traded at 24,316.5 as of 19:10 IST, having gained 74 points from the Session II open and establishing an early range between 24,241.0 and 24,248.0 in the opening five-minute candle. The index has pushed toward the upper end of the day's cumulative range, with Session II running until 02:45 AM IST on August 29. European markets will close around 21:00-22:00 IST, which could alter the direction as overnight trading progresses.