Current Gift Nifty Live levels indicate that Nifty will open around 85 pts. negative in the next trading session.
| Performance | |||
| Today’s Low | Today’s High | ||
| 22047.50 | 22227.00 | ||
| Open 22153.50 | Prev. Close 22129.00 | ||
GIFT Nifty Live Today
GIFT Nifty Introduction
For many years, the SGX Nifty has been an indicator of the movement of the domestic indices. But now the SGX Nifty is shifted to the new international exchange NSE IFSC in GIFT City, Gujarat, and has been renamed ‘GIFT NIFTY’.
Let us uncover what GIFT Nifty is and the reason behind the transfer. We will look into both contracts’ trading hours and where and how GIFT Nifty will be traded. The article will also discuss the quarrel between NSE and SGX and how it led to the formation of GIFT Connect.
What is GIFT Nifty?
For many years, the Nifty Futures contracts traded on the Singapore Exchange have been an indicator of the movement of the domestic indices, NSE Nifty 50 and S&P BSE Sensex.
GIFT Nifty is the rechristened version of SGX Nifty, as all open positions in SGX have been shifted to NSE IX under the regulatory framework of the International Financial Services Center Authority (IFSCA).
What are the Timings of GIFT Nifty and SGX Nifty?
The new Gift Nifty Live F&O contracts have 21-hour trading days between two sessions. The first session would be 9 hours long, from 6:30 am IST to 3:40 pm Indian Standard Time (IST). After a 55-minute break, a second 12-hour session will begin at 4:35 pm IST and continue till 2:45 am IST the next day.
On the other hand, SGX Nifty was open for trade for 16 hours daily, between 6:30 am and 11:30 pm IST.
What will happen to SGX Nifty?
All open SGX Nifty contracts ceased for trade on June 30. The entire volume of these contracts was shifted to the NSE IFSC. SGX Nifty would eventually be delisted from the SGX as well.
Is There Any Difference Between SGX Nifty and GIFT Nifty?
Although there are no fundamental differences between the two since GIFT Nifty is just a rebrand of SGX Nifty, there are a few variations.
| GIFT Nifty | SGX Nifty | |
| Exchange | NSE IFSX, GIFT City | SGX, Singapore |
| Trading hours | 21 hours | 16 hours |
| Timings | 6:30 am to 3:40 pm IST and 4:35 pm to 2:45 am IST | 6:30 am to 11:30 pm IST |
After the dispute between the NSE and the SGX was settled by a court, which barred the SGX from offering the proposed items, but allowed it to continue listing SGX Nifty, the two exchanges decided to work together to introduce index contracts for international and domestic participants.
This gave birth to the NSE IFSC-SGX Connect project at GIFT City or GIFT Connect.
Stay Connected With us: Siasatpro.com
Recent Comments