GIFT NIFTY reopened for Session II at 24,215 at 16:35 IST on Thursday, down 29 points or 0.12% from the Session I close of 24,244. The index gapped marginally lower as traders assessed mixed signals from European markets, which had been trading for over three hours by the Session II open.
The gap extended GIFT NIFTY's modest underperformance against the previous day's close of 24,349, leaving the index up just 6 points or 0.02% on a full-day basis as of the Session II start. After opening at 24,215, the index held within a tight 11.5-point range in the first candle, touching a low of 24,210 before closing the 16:35 bar unchanged. By 19:10 IST, GIFT NIFTY had rallied sharply to 24,355, tracking a swift recovery in the opening minutes of Session II.
European Markets Show Divergence Mid-Session
European equity indices were trading with no clear direction in mid-session as GIFT NIFTY reopened, offering little catalyst for the Indian futures contract. The DAX 40 stood at 24,915.49, down 84.04 points or 0.34%, while the CAC 40 slipped 4.57 points or 0.05% to 8,377.86, according to European market data at the time of the Session II open. The FTSE 100 had closed earlier at 10,572.24, up 56.34 points or 0.54% at 16:35 GMT, ending its trading day on a positive note.
The Euro Stoxx 50, Europe's leading blue-chip index, was quoted at 6,212.25, down 71.36 points or 1.14% in mid-session trading. The divergence between London's gains and weakness in Frankfurt and Paris reflected sector rotation and varied economic data across the region, though specific drivers were not detailed in available market commentary.
European indices have struggled with rising interest rate expectations and inflation concerns in recent sessions, according to prior forecasts, though Thursday's session showed no dramatic moves in either direction. The muted European performance offered limited cues for GIFT NIFTY's Session II trajectory, leaving the index to trade off its own technical levels and positioning ahead of Friday's Indian cash market open.
GIFT NIFTY Session II Snapshot
| Metric | Level |
|---|---|
| Session I Close | 24,244.0 |
| Session II Open | 24,215.0 |
| Session Gap | -29.0 (-0.12%) |
| Current LTP | 24,355.0 |
| Change vs Prev Close | +6.0 (+0.02%) |
| Day High | 24,387.5 |
| Day Low | 24,075.0 |
European Indices (Mid-Session)
| Index | Level | Change |
|---|---|---|
| FTSE 100 | 10,572.24 | +56.34 (+0.54%) |
| DAX 40 | 24,915.49 | -84.04 (-0.34%) |
| CAC 40 | 8,377.86 | -4.57 (-0.05%) |
| Euro Stoxx 50 | 6,212.25 | -71.36 (-1.14%) |
GIFT NIFTY is currently trading at 24,355 as of 19:10 IST, well above the Session II opening level, as the index recovered sharply in the first 75 minutes of evening trade. Session II will run until 02:45 AM IST on Friday, with European markets set to close around 21:00-22:00 IST, which could bring further volatility depending on how the continental bourses finish. The day's full range from 24,075 to 24,387.5 reflects intraday volatility across both sessions, with GIFT NIFTY now holding closer to the upper end of that band heading into the European close.