In a testament to India’s rising stature in global finance, GIFT Nifty scripted history on Friday with the highest single-day turnover ever. The index traded 4,57,989 contracts, generating $23.48 billion in value—surpassing the January benchmark of $22.88 billion. This feat highlights the robust appetite for equity derivatives linked to Indian markets at GIFT City.
Launched fully in July 2023 by NSE International Exchange, GIFT Nifty has amassed over 60.05 million contracts and $2.76 trillion in cumulative turnover. Analysts point to this consistent volume growth as evidence of the index’s role as a key indicator of India’s market momentum.
NSE IX, with its IFSCA nod since 2017, dominates GIFT IFSC with more than 99.6% market share. It caters to a broad spectrum of products, including equity shares, REITs, InvITs, debt securities, and ESG bonds under new 2024 listing norms. The exchange also supports primary market activities.
Notably, October’s monthly record of $106.22 billion from 2.11 million contracts further cements its prowess. Exchange leaders celebrated the latest win, crediting the trading community. With global investors piling in, GIFT Nifty is poised to redefine offshore trading dynamics for Indian assets.