GIFT Nifty
| Foundation | July 3, 2023 |
|---|---|
| Operator | NSE IFSC |
| Exchanges | GIFT City, Gandhinagar, Gujarat |
| Website | www |
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
[edit]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
[edit]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
[edit]References
[edit]- ^ "What is GIFT Nifty, which started trading from July 3". Indian Express. Retrieved 2023-09-02.
- ^ "What is GIFT Nifty?". Equity Pandit. Retrieved 2023-09-02.
- ^ "What is GIFT Nifty, the new avatar of the India-Singapore joint stock exchange now in Gujarat". The Print. Retrieved 2023-09-02.
- ^ "SGX Nifty is now GIFT Nifty: Timings, how to check data, key changes explained". Economic Times. Retrieved 2023-09-02.
External links
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