GIFT NIFTY reopened for Session II at 23,850 at 16:35 IST, posting a modest gap of 27 points or 0.11% above Session I's close of 23,823. The overnight index quickly tested 23,855 in the opening minutes before settling into a narrow range.
The marginal uptick came despite GIFT NIFTY trading 57 points or 0.24% below Tuesday's close of 23,862.5 on a full-day basis. Session I had ended on a soft note, with the final three five-minute candles showing steady erosion from 23,843 at 15:25 to 23,823 at 15:35. The day's high of 23,992 was recorded during Session I's morning trade.
| GIFT NIFTY Session II Snapshot | Level |
|---|---|
| Session I Close (15:35) | 23,823.0 |
| Session II Open (16:35) | 23,850.0 |
| Session Gap | +27.0 (+0.11%) |
| Current LTP (19:10 IST) | 23,805.5 |
| Change vs Previous Day | -57.0 (-0.24%) |
European Markets Show Mixed Mid-Session Performance
European equities presented a mixed picture at the time of GIFT NIFTY's reopening, with Germany's DAX 40 gaining 0.58% to 25,155.41 and France's CAC 40 up 0.89% to 8,437.89 according to intraday data. The FTSE 100 closed Tuesday's session at 10,716.97, up 131.06 points or 1.24%, providing a positive overnight backdrop.
The Euro Stoxx 50 index showed gains of 0.25% to 3,876.78 in mid-session trade, while broader European benchmarks including the STOXX Europe 600 were reported up 0.6% to 647. The divergence between UK markets—which had already closed for the day—and continental European bourses trading in real-time created an uneven picture for Session II participants.
The FTSE 100's strong Tuesday close contrasted with more modest continental gains, suggesting sector-specific rather than broad-based risk appetite. With major European markets still active until approximately 21:00-21:30 IST, GIFT NIFTY traders faced several hours of potential volatility as European price action evolved through Session II.
GIFT NIFTY Trades Below Opening Level in Early Session II
By 19:10 IST, GIFT NIFTY had slipped to 23,805.5, erasing the opening gap and trading 44.5 points below the Session II open of 23,850. The index tested a session low of 23,801 shortly after the European market correlation began to influence price action. With Session II running until 02:45 IST Thursday morning and European markets set to close mid-session, further directional moves remain possible as overnight traders position ahead of Thursday's Asian open.