GIFT NIFTY reopened for Session II at 23,644.5 at 16:35 IST on May 18, posting a modest gap up of 36.5 points (0.15%) from the Session I close of 23,608. The index traded in a narrow 37-point band in the opening five minutes, touching a high of 23,647 before slipping to 23,610.
The marginal positive gap came despite a sharp selloff underway in European markets, which have been trading for over three hours by the Session II open. The DAX was down 2.07%, shedding 505.69 points to trade at 23,950.57, while the CAC 40 declined 1.60% to 7,952.55, losing 129.72 points. The FTSE MIB dropped 1.87% to 49,116.47, down 933.80 points, and the IBEX 35 fell 1.05% to 17,622.70.
The Euro Stoxx 50, the benchmark index for eurozone blue chips, was trading 0.38% lower at 5,805.41 as of late morning European time, down 22.35 points from its previous close of 5,934.96. Earlier in the week on May 15, the FTSE 100 closed at 10,195.37, down 1.71%, though intraday levels for May 18 were not available in the data.
The broad-based decline across European bourses suggests risk-off sentiment dominating the mid-session in Europe, though specific sectoral or macroeconomic triggers were not detailed in the available data. German equities bore the brunt of the selling pressure with the DAX posting the steepest percentage decline among major indices.
| GIFT NIFTY Session II | Level |
|---|---|
| Session I Close (15:35 IST) | 23,608.0 |
| Session II Open (16:35 IST) | 23,644.5 |
| Gap | +36.5 (+0.15%) |
| Current LTP (19:10 IST) | 23,605.5 |
| Change vs Previous Day Close | -9.5 (-0.04%) |
| European Index | Level | Change |
|---|---|---|
| DAX | 23,950.57 | -505.69 (-2.07%) |
| CAC 40 | 7,952.55 | -129.72 (-1.60%) |
| FTSE MIB | 49,116.47 | -933.80 (-1.87%) |
| Euro Stoxx 50 | 5,805.41 | -22.35 (-0.38%) |
| IBEX 35 | 17,622.70 | -186.50 (-1.05%) |
GIFT NIFTY was trading at 23,605.5 as of 19:10 IST, down 9.5 points (0.04%) from the previous day's close of 23,615. The index has traded between a day high of 23,706 and a day low of 23,343.5 across both sessions combined. Session II runs until 02:45 AM IST, and European markets will close around 21:00-22:00 IST, which could influence the overnight trajectory.