GIFT Nifty explained

GIFT Nifty
Foundation:July 3, 2023
Operator:NSE IFSC
Exchanges:GIFT City, Gandhinagar, Gujarat

GIFT Nifty is an Indian stock market index derivative product that serves as an indicator for NSE's benchmark index NIFTY 50. It was rebranded from the erstwhile SGX Nifty and shifted to the new international exchange–NSE IFSC in GIFT City, Gandhinagar, Gujarat. Trading under new name began on July 3, 2023.[1]

Background

The SGX Nifty had long been a key indicator for India's domestic stock market indices.[2] The transition to GIFT Nifty was part of a broader strategy to centralize international financial services in GIFT City, a hub for India's financial sector and a key initiative under the Smart Cities Mission started by Prime Minister Narendra Modi.[3]

Operational details

GIFT Nifty operates in two trading sessions. The first session runs from 6:30 am to 3:40 pm IST, and the second session is from 4:35 pm to 2:45 am IST. This extended trading window aims to align with international market timings.[4]

See also

External links

Notes and References

  1. Web site: What is GIFT Nifty, which started trading from July 3. Indian Express. 2023-09-02.
  2. Web site: What is GIFT Nifty?. Equity Pandit. 2023-09-02.
  3. Web site: What is GIFT Nifty, the new avatar of the India-Singapore joint stock exchange now in Gujarat. The Print. 2023-09-02.
  4. Web site: SGX Nifty is now GIFT Nifty: Timings, how to check data, key changes explained. Economic Times. 2023-09-02.

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