BUSINESS

GIFT Nifty starts trading today

By Athik Saleh

1

Rebranding SGX Nifty

The Singapore Stock Exchange Nifty, or SGX Nifty, has been rebranded as GIFT Nifty and will now be a part of the NSE International Exchange in GIFT City.

2

Trading starts

All derivative contracts worth $7.5 billion have been shifted to GIFT City from Singapore. GIFT NIFTY's trading starts today. 

3

Trading hours

GIFT Nifty will have two trading sessions, from 6:30 am to 3:40 pm IST and 5:00 pm to 2:45 am IST. It will set prices in the morning for India.

4

Trading volume

GIFT Nifty is expected to have a daily trading volume of $1.5-2 billion. SGX Nifty was the second-highest contributor to SGX's equity derivatives in FY22.

5

Tax-free gains

GIFT Nifty investors will be exempt from various taxes as NSE IX is located in a Special Economic Zone, making it attractive for non-resident investors.

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