GIFT Nifty first session single-day turnover hits record $22.27 billion

GIFT Nifty recorded a new milestone by scaling an all-time high first session single day trading activity of 5,18,522 contracts with turnover of around US$ 22.27 billion or Rs 1,85,098 crore on Tuesday (January 23, 2024). The financial index surpassed its prior record of single-day full-session trading turnover of US $16.76 billion on November 28, 2023.

GIFT  Nifty commenced full-scale operation on July 3, 2023 and since then trading turnover on NSE International Exchange (NSE IX) has been rising exponentially.

“Since the first day of full-scale operations, GIFT  Nifty has witnessed a total cumulative volume of over 10.84 million contracts with total cumulative turnover of US $ 430.06 billion,” said the release by the GIFT IFSC.

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, it added.

In July last year, marking the transfer of a $7.7 billion derivative contract from the Singapore Exchange to the NSE IX in Gujarat's Gandhinagar, SGX Nifty futures contracts were rebranded as Gift Nifty.

About NSE IX

NSE IX is an International multi assets exchange set up at GIFT City, and is recognized by International Financial Services Centre Authority (www.ifsca.gov.in). NSE IX offers a diversified portfolio of products including Indian single stock derivatives, index derivatives, currency derivatives, depository receipts, commodity derivatives and global stocks.