Gift Nifty logs fresh record single day turnover of USD 15.3 billion

ANI
27 Sep 2023, 22:27 GMT+10

Gandhinagar (Gujarat) [India], September 27 (ANI): Gift Nifty index reached an all-time high single-day trading activity with a turnover of USD 15.25 billion (Rs 126,930 crore equivalent) on September 26.

Gift Nifty broke its previous record last month on August 29 when the turnover touched a high of USD 12.98 billion.

NSE in a release on Wednesday said trading turnover on 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 total cumulative volume of over 4.59 million contracts with a total cumulative turnover of USD 178.54 billion.

"We are glad to witness the success of GIFT Nifty and express our sincere gratitude to all the participants for their overwhelming support and making GIFT Nifty a successful contract," NSE said in the release.

In a major step towards establishing India as a global financial centre, an equity index SGX Nifty that earlier was being operated in Singapore will now entirely be traded from GIFT City, India's first International Financial Services Centre (IFSC), in Gandhinagar. It is being rechristened as GIFT Nifty.

GIFT Nifty is accessible for almost 21 hours --- longer than the time the SGX Nifty contracts were available on the Singapore Exchange.

(ANI)

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