GIFT NIFTY Live

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All About GIFT NFTY ^{(SGX Nifty)}

GIFT Nifty is a quantitative innovation that is likely to give a shift in the trading of Indian stock index futures across the international platform. Formerly called SGX Nifty, this new strategy has captured the eyes of global traders. With GIFT Nifty, comes a change in trading hours, trading platform and prospects for SGX Nifty. It is for these reasons that this blog seeks to shed light on these issues and give a lot of insight into GIFT Nifty. 

What is GIFT Nifty? 

GIFT Nifty, which was known as SGX Nifty previously, is a futures contract based on the Nifty 50 Index that reflects the statistics of the Indian stock market. It is listed in the NSE International Financial Centre, in GIFT City. GIFT Nifty enables international investors to invest in Indian stocks without having to operate them through Indian stock exchanges. 

What is the SGX Nifty Index? 

Future contacts of Nifty traded on SGX (Singapore Exchange) was known as SGX Nifty, and now it will be called GIFT Nifty listed on the NSE IFSC platform. SGX Nifty was delisted on 30th June 2023 and was replaced by GIFT Nifty, which began trading effectively from 3rd July 2023 The shift marks the finality of SGX Nifty since the future contracts have been relocated to GIFT City. This was in line with a general strategy aimed at returning Indian index derivatives trading to the shore. Consequently, the GIFT Nifty has totally replaced SGX Nifty. 

What Are the Timings of GIFT Nifty and SGX Nifty? 

GIFT Nifty is an extended trading window where almost all international investors can trade throughout the day and night. This is still preferable to the previous timings of the SGX Nifty, which were confined to the actual trading time in Singapore. The change in trading hours for GIFT Nifty means traders can align them with the global markets, helping traders across the globe. 

GIFT NIFTY trades in two sessions a day. GIFT NIFTY’s first session timing is from 6:30 AM to 3:40 PM, and the second session timing is from 4:35 PM to 2:45 AM.

Difference Between SGX Nifty VS GIFT Nifty Index

SGX Nifty and GIFT Nifty are two derivatives that are linked to the same base instrument, which is based on the NSE (National Stock Exchange) NIFTY50 index; however, there are some differences. The SGX Nifty has now been discontinued as of July 3, 2023. This future contact is now trading as Gift Nifty. The most critical distinction is based on the trading floor; SGX Nifty was assigned to the Singapore Exchange, while GIFT Nifty was assigned to the NSE IFSC in India. Further, the GIFT Nifty is available for trading for a longer period than the SGX Nifty. Nevertheless, the specifications of the contract and the index itself remain the same. 

Where Will GIFT Nifty Data Be Available? 

GIFT Nifty data will be accessible on NSE IFSC and with other financial data providers that are covering the global markets. Actual quotations, quotes quotations, trading history, and other essential trading information can be obtained from these terminals. Financial news portals along with trading interfaces will also give updates with respect to GIFT Nifty as earlier in case of SGX Nifty. 

Why is SGX Nifty replaced to GIFT Nifty? 

A change from SGX Nifty to GIFT Nifty was due to the fact that the trading of India’s equity index futures was being centralized within the country. Through shifting the trading to GIFT City, the Indian government and various regulatory bodies will be trying to direct foreign investments into the country and boost the availability of liquidity in the Indian markets. This also aims at India’s strategic vision of developing GIFT City as an international financial services center. 

How To Trade Gift Nifty?

GIFT Nifty will be traded on NSE IFSC, a exchange located in GIFT City. The public is allowed to trade in GIFT Nifty through brokers who are members of the NSE IFSC. It is quite like trading SGX Nifty, however it will be done on a different trading platform and during a different time. The reader should be aware that Indian citizens are prohibited from directly trading GIFT Nifty. 

What is GIFT Connect and How Was It Formed?

GIFT Connect is a framework that allows the buying and selling of Indian securities through NSE IFSC and other such exchanges. It provides a direct link between the Indian markets and international investors to trade Indian derivatives on a platform that is regulated within India. Being a bridge that connects SGX Nifty and GIFT Nifty, GIFT Connect helps traders have an easy and smooth transfer. 

Formation Of GIFT Connect 

GIFT Connect was developed as a joint initiative of the NSE and the Singapore Exchange (SGX). This was in line with provisions of the over-all deal to move trading in SGX Nifty to GIFT City. GIFT Connect was developed as a means to enable global investors to maintain their trading in Indian equity index futures through the NSEIFSC or NSEIX after the shift from SGX Nifty to GIFT Nifty. 

Conclusion 

GIFT Nifty is a new era for trading Indian stock index futures in an international market. The benefits of migrating from SGX Nifty to GIFT Nifty are that traders can trade during extended hours, have better connectivity to the Indian markets, and have better trading facilities. Even though, the underlying asset has not changed, the shift to GIFT City is a strategic plan to transform India into a financial powerhouse.