GIFT NIFTY Reopens Lower Despite European Gains
GIFT NIFTY opened Session II at 22,470 at 4:35 PM IST on March 30, down 24.5 points or 0.11% from the Session I close of 22,494.5. The index gapped marginally lower into the evening session despite early gains across European benchmarks.
The contract traded as low as 22,457 in the opening five-minute candle before slipping further to 22,332.5 by 6:53 PM IST. GIFT NIFTY remains down 417.5 points or 1.84% from the previous day's close of 22,750, with the day's range spanning 22,292.5 to 22,710.5 across both sessions combined.
| Metric | Level |
|---|---|
| Session I Close | 22,494.5 |
| Session II Open | 22,470.0 |
| Gap | -24.5 (-0.11%) |
| Current LTP | 22,332.5 |
| Change vs Prev Day | -417.5 (-1.84%) |
European Markets Trade Mixed to Higher
European equities provided a constructive backdrop as Session II opened, with the FTSE 100 trading at 10,044 as of 9:47 AM GMT, up 77 points or 0.78%. The UK benchmark extended gains after opening higher, according to real-time data.
Germany's DAX traded at 22,336, up 35 points or 0.16%, reversing earlier weakness. The index had opened lower earlier in the session but turned positive by mid-afternoon European time. France's CAC 40 showed strength at 7,707, up 5 points, while broader European data indicated the STOXX 50 and STOXX 600 rising around 0.3% after a subdued start.
The divergence between European gains and GIFT NIFTY's softer Session II open suggests India-specific factors or profit-taking after the day's earlier decline. The day high of 22,710.5 was established during Session I trading before the index rolled over into the afternoon.
Session II Range Develops
GIFT NIFTY traded in a tight 30-point band in the opening candle before extending losses in subsequent bars. The contract dropped to 22,427 by 4:40 PM IST and further to 22,418 by 4:45 PM IST, indicating continued selling pressure in the early evening session.
Session II runs until 2:45 AM IST on March 31, with European markets scheduled to close around 9:00-9:30 PM IST. Further direction will hinge on how European indices finish and any overnight developments in global macro factors. The contract is currently trading 138 points below its Session II opening level.