The SGX Nifty, an early indicator of the Indian equity markets, has begun trading as GIFT Nifty at GIFT City in Gandhinagar on 3rd July 2023, Monday.
Trading in NSE’s international contracts which used to take place in Singapore earlier, will now take place at Gujarat International Finance Tec-City (GIFT City).
Speaking on the occasion, the International Financial Services Centres Authority ( IFSCA) Chairperson Injeti Srinivas said, the complete migration of the re-branded GIFT-NIFTY to GIFT City will give a boost to GIFT-IFSC as a global hub for international financial products and services.
The GIFT Nifty will have two sessions of trading from today. The first session will start at 6:30 am Indian Standard Time (IST) and will continue till 3:40 pm. The second session will begin at 5 pm and continue till 2:45 am.
According to the official press release, the first session recorded a turnover of 1.13 billion USD at 3.40 PM.
