Gift Nifty Live Chart
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Overview
Gift Nifty, previously SGX-Nifty, is India’s Nify 50 Index derivative contract which now comes under the purview of NSE IX. Gift Nifty was opened to trade on July 3, 2023, from Gift City of Gujrat’s Gandhinagar (India’s Financial Service Hub) with a total of 21 hours of session.
What is Gift Nifty?
Indian Markets have been trading through SGX-Nifty for many years since Sept 2000. However, after a 5-year long dispute b/w NSE & SGX, SGX-Nifty was finally renamed as Gift-Nifty in July 2023. Along with renaming, all the Nifty 50 trades ceased to operate on the Singapore Exchange and shifted to NSE IX’s Gift-Nifty under the framework of IFSCA (International Financial Services Centre Authority). Now Gift Nifty allows participants (both domestic and international) to trade in the Indian Stock Market using the GIFT Connect route
Gift Nifty Trading Timings
Gift Nifty operates in 2 trading sessions. The first session starts at 0630 hrs IST and lasts up to 1540 hrs IST. Then, the second session starts at 1635 hrs IST and ends at 0245 hrs the next day. Thus, Gift Nifty offers a total of 21-hour trading sessions.
However, it should be noted here that SGX-Nifty used to trade for 16 hours starting from 0630 hrs IST up to 2330 hrs IST.
Types of Gift Nifty Contracts:
Gift Nifty comprises of 4 different types of contracts which are mentioned below;
• Gift Nifty 50 (Tracks Nifty 50 Index)
• Gift Nifty Bank (Tracks 12 Largest Indian Banks)
• Gift Nifty Financial Services (Tracks 25 Largest Indian Financial Service Companies)
• Gift Nifty IT
Why The Change From SGX Nifty to Gift Nifty Was Required?
The change was primarily introduced to enhance the involvement of foreign investors in the Indian Market. Initially, India chose to use the credibility of the Singapore Exchange as India’s reputation and dependability were not fully established at that time. Thus, SGX provided a kind of boost to start the Indian trading market. Having said that, NSE entered into a partnership with SGX to supply data and allow for trade sessions.
Other than this, this partnership also allowed foreign investors to evade the troubling waters of SEBI. However, as the volume of SGX Nifty kept on increasing, the need to have greater control over its own market started to rise in India.
Combining all such factors, GIFT Connect was introduced which provides more liquidity among international and domestic participants. This deal also helped India to create its financial ecosystem. This will also enable the Indian stock hub to compete against other financial hubs around the globe.
What Are Benefits of Gift Nifty?
As establishment of Gift Nifty is clearly a win situation for the Indian Market. Let us take a look at the benefits of establishing Gift City Nifty:
- -As Nifty derivative contracts were major profiteers of SGX’s revenue, the change will allow a financial boost to Gift City.
- -If we look at the trading sessions of Gift Nifty, it overlaps almost every other market’s trading session, which can provide an early bird review of the market for foreign participants.
- -As Gift Nifty comes under the preview of IFSCA, it will provide a sense of secure trading environment among participants.
- -It will also act as a pool of direct investment in the Indian Market which is essential if we align India’s long-term growth plans.
What is Gift Connect?
Gift Connect acts as a transboundary investment channel between NSE IX and other stock exchanges. Also known as NSE IFSC-SGX Connect, it will create a wider liquidity pool for investments in Nifty products. As per the deal, NSE and SGX will split the costs and revenue in a ratio of 50:50 (roughly) once a threshold limit is crossed.
FAQs
Ans. Gift Nifty is a derivative contract of the Nifty 50 Index, through which participants can access the Indian Stock Markets. It is located at Gift City of Gujrat’s Gandhinagar.
Ans. To trade in Gift Nifty, you can follow the below-mentioned steps:
- Open a demat account with any of the NSE IX verified brokers.
- Complete your KYC (Know Your Customer) by verifying your identity documents.
- Using any suitable trading platform which allows you to buy or sell trades you can start your trading journey.
Additionally, keep a good track of the market data using the Gift Nifty Futures Live Chart above.
Ans. Majorly there are 19 stock market holidays are there in 2024. Moreover, the market is closed for trade on weekends and federal holidays.
Ans. No, gift nifty.org is not the official website to host data. NSE is the official website that hosts all the data.
Ans. Gift Nifty was launched on July 3, 2023. All the trades on SGX Nifty ceased to occur on June 30, 2023.
Ans. Gift Nifty Trading Timing is divided into two sessions, the Morning session(0630 hrs to 1540 hrs) and the Evening session (1635 hrs to 0240 hrs the next day).
