GIFT NIFTY Opens Session II With 37-Point Gap Down
GIFT NIFTY reopened for its second session at 23,850 at 16:35 IST on April 24, gapping down 37 points or 0.15% from the Session I close of 23,887. The opening minutes saw the index test a low of 23,821.5 before steadying near the 23,847 level as European markets continued to trade in negative territory.
The modest gap lower extended a late Session I slide that had seen GIFT NIFTY retreat from session highs above 23,930. Despite the Session II opening dip, the index remained 84.5 points or 0.35% higher than the previous day's close of 23,954, with the day's high of 24,265 recorded during the morning session.
| GIFT NIFTY Session II Snapshot | Level |
|---|---|
| Session I Close (15:40) | 23,887.0 |
| Session II Open (16:35) | 23,850.0 |
| Session Gap | -37.0 (-0.15%) |
| Current LTP (19:10 IST) | 24,038.5 |
| Change vs Previous Close | +84.5 (+0.35%) |
| Day High | 24,265.0 |
| Day Low | 23,820.0 |
European Markets Weigh on Sentiment
The negative opening in GIFT NIFTY's evening session mirrored weakness across European bourses, which had been trading for over three hours by the time Session II commenced. The FTSE 100 was trading 72.68 points or 0.70% lower at 10,384.33, while Germany's DAX slipped 124.60 points or 0.52% to 24,030.85. France's CAC 40 declined 95.82 points or 1.16% to 8,131.50, marking the sharpest loss among major European indices.
The Euro Stoxx 50, representing blue-chip eurozone stocks, fell 42.33 points or 0.72% to 5,852.40 as of mid-session in Europe. The index had opened at 5,864.15, down from a previous close of 5,894.73. Reports indicated European stocks were slipping amid persistent U.S.-Iran tensions, weighing on investor sentiment across the region.
The coordinated weakness in European markets provided a cautious backdrop for GIFT NIFTY's Session II, with traders navigating the gap down from Session I levels. The declines across FTSE 100, DAX, and CAC 40 suggested broad-based risk aversion, though sector-specific drivers remained limited in available data.
| European Indices (Mid-Session) | Level | Change |
|---|---|---|
| FTSE 100 | 10,384.33 | -72.68 (-0.70%) |
| DAX | 24,030.85 | -124.60 (-0.52%) |
| CAC 40 | 8,131.50 | -95.82 (-1.16%) |
| Euro Stoxx 50 | 5,852.40 | -42.33 (-0.72%) |
Session II Underway With European Markets in Focus
GIFT NIFTY was trading at 24,038.5 as of 19:10 IST, having recovered from the session opening lows to trade 188.5 points above the Session II open. The index faces a long evening session running until 02:45 AM IST, during which European markets will close around 21:30-22:00 IST, potentially bringing fresh volatility. The early Session II range of 23,821.5 to 23,874.0 suggests traders are watching European cues closely for direction.