GIFT Nifty registers record single-day trade worth $16.76 bn

Before being rebranded as GIFT Nifty, the security traded at Singapore Stock Exchange as SGX Nifty.

The GIFT Nifty scaled an all-time high single-day trading of 4,27,925 contracts with a turnover of $16.76 billion (around Rs 1,39,766 crore) on November 28, NSE IX said in a release.

The index not only surpassed its prior record of single-day trading turnover of $15.25 billion on September 26, 2023, but also achieved the highest open interest of $13.51 billion, surpassing its previous OI record of $12.75 billion on November 27, 2023.

Trading turnover on the NSE IX has been growing exponentially since the commencement of a full-scale operation of GIFT Nifty on July 3, 2023. Since the first day of full-scale operations, GIFT Nifty has witnessed a cumulative volume of over 7.87 million contracts with a total turnover of $304.07 billion.

Before being rebranded as GIFT Nifty and shifted to NSE IX, the security was traded at the Singapore Stock Exchange as SGX Nifty. As of 2.45pm on November 29, GIFT Nifty traded at 20,116.50, up 0.54 percent. The security is usually used by traders to guess how the Nifty may open everyday.

NSE IX, an arm of the National Stock Exchange, is an international multi assets exchange set up at GIFT City, and is recognised by International Financial Services Centre Authority.

NSE IX offers a diversified portfolio of products, including Indian single stock derivatives, index derivatives, currency derivatives, depository receipts, commodity derivatives and global stocks.