(THE NEWSMAN OF INDIA.COM)
Gift Nifty derivatives on NSE International Exchange (NSE IX) witness a record first session single day trading activity of more than 2,14,000 contracts with turnover of US $8.5 billion on July 24, 2023. Traded contract volume and turnover value witness a significant growth of over 530% and 600% respectively compared to the first day full-scale operations volume of 33,570 contracts with turnover of US $1.21 billion. Trading turnover on NSE IX has been growing exponentially since commencement of full-scale operation of NSE IX-SGX GIFT Connect (The Connect) from SGX to NSE IX on July 03, 2023. Since the first day of full-scale operations of the Connect, Gift Nifty has witnessed a total cumulative volume of 7,86,636 contracts with total cumulative turnover of US $30.28 billion. These volumes demonstrate the growing participation from international investors and attractiveness of this Connect arrangement. Gift Nifty offers access to Gift Nifty 50, Gift Nifty Bank, Gift Nifty Financial Services and Gift Nifty IT derivative contracts on NSE IX. These contracts are accessible for almost 21 hours, which overlaps Asia, Europe and Us trading hours. Gift Nifty offers a single pool of liquidity and venue to access USD denominated Nifty derivatives at NSE IX.
Gift Nifty, which stands as a new benchmark to the growth story of Indian equity market, has witnessed a strong participation from international market participants. We express our sincere gratitude to all the participants for their overwhelming support since the commencement of full-scale operations.