History
GIFT Nifty is an Indian stock market index derivative product that serves as an indicator for NSE's benchmark index NIFTY 50. Earlier known as SGX Nifty, it was rebranded from SGX to the new international exchange–NSE IFSC in GIFT City, Gandhinagar, Gujarat in 2023. SGX Nifty started trading on 25 September 2000; trading under the new name began on 3 July 2023.
GIFT Nifty had a monthly turnover of US$100.7 billion in September 2024. It recorded its highest single day turnover of US$22.7 billion on 24 September 2024.
The SGX Nifty has been tracked indicator for India's domestic stock market indices. The transition to GIFT Nifty was part of a broader strategy to centralize international financial services in GIFT City, which is a hub for India's financial sector and a key initiative.
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.
