Gift Nifty sees record-setting first session single day turnover of $8.5 billion
NSE IX-SGX GIFT Connect (The Connect) from SGX to NSE IX on 3 July. The total cumulative volume of traded contracts from the first day of operations has reached a whopping 7,86,636 with a total cumulative turnover of $30.28 billion.
The growth indicates the increase in participation from international investors and the attractiveness of this Connect arrangement, the exchange said in a statement. 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 a venue to access USD-denominated Nifty derivatives at NSE IX.
The statement added, “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." Gift Nifty serves as a major milestone to transform India into a global financial hub.
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