GIFT NIFTY Reopens Nearly Flat in Session II at 22,544.5 as European Indices Rally

GIFT NIFTY reopened for Session II at 22,544.5 at 16:35 IST on March 31, edging 14 points or 0.06% lower from the Session I close of 22,558.5. The marginal gap down came despite a broad rally across European equity markets, which had been trading for over three hours by the time the second session commenced.

The benchmark remained under mild pressure in early Session II trade, dipping to 22,507.5 by 19:00 IST. That left GIFT NIFTY up just 12 points or 0.05% from the previous day's close of 22,495.5, significantly underperforming the gains seen in Europe. The day's range spanned 22,450.0 to 22,690.0 across both sessions.

European Markets Drive Mid-Session Momentum

European equity indices delivered solid gains in afternoon trade, providing a constructive backdrop for Session II. The FTSE 100 climbed 0.64% to 10,193.14 as of 9:59 AM GMT, adding 65.18 points. Germany's DAX outperformed with a 0.64% advance to 22,706.83, up 143.95 points, while France's CAC 40 rose 0.48% to 7,809.87, gaining 37.42 points.

The Euro Stoxx 50, Europe's blue-chip benchmark for the Eurozone, added 0.65% to 5,541.79, up 35.99 points as of March 30 close data. Broader European indices showed strength, with the FTSE 100 reported at 10,194.54 in separate data and the DAX at 22,687.56, both confirming the positive momentum across the region.

Some data sources indicated even stronger moves earlier in the session, with the FTSE 100 cited at 10,127.96, up 1.61%, and the DAX at 22,562.88, up 1.18%. The CAC 40 was also reported at multiple levels including 7,804.64 and 7,785.46, reflecting the dynamic nature of intraday trading. The divergence in reported levels likely reflects different timestamps during the European mid-session.

GIFT NIFTY Session II Range

GIFT NIFTY traded in a narrow 13-point band in the opening 15 minutes of Session II, moving between 22,550.5 and 22,537.5 before settling at 22,537.5 on the first candle close at 16:40 IST. The benchmark continued to drift lower through 16:45 IST, touching 22,529.5 and closing that candle at 22,533.5. Session II runs until 02:45 AM IST on April 1, with European markets set to close around 9-10 PM IST, which could bring fresh directional cues overnight.