GIFT Nifty (Earlier SGX Nifty)
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What is GIFT NIFTY?
After moving from the Singapore Exchange (SGX) to the GIFT IFSC in (GIFT City) Gandhinagar district in Gujarat, India. On July 3, 2023, the current SGX Nifty Futures & Options contracts will be replaced by the new name of GIFT (Gujarat International Finance Tec-City) Nifty, which was revealed by the NSE IFSC-SGX. It is the first international effort to establish a connection between the capital markets of Singapore and India.
A significant turning point for GIFT IFSC’s outreach to international investors and the improvement of GIFT City’s capital market environment is GIFT Nifty. The NSE International Exchange trades the Gift Nifty, Gift Nifty Futures, which is the IFSC-SGX Connect Nifty Index, at IFSC, Gift City, Gujarat, India.
(Gujarat International Finance Tec-City) Gift Nifty is a futures contract that is used by institutional investors and hedge funds to manage their exposure to the Indian stock market. It is also used by traders to make predictions about the future course of the Nifty 50 index.
What is the GIFT NIFTY opening time?
GIFT Nifty will be accessible for around 19 hours, coinciding with trading hours in Asia, Europe, and the US. In the Asia time zone, the GIFT NIFTY begins at 6:30 am and lasts until 3:40 p.m. The next session, which runs from 4:35 p.m. to 2:45 a.m. the next day, is aimed at the United States and European investors.
When Gift Nifty Opens:-
- In Asia, the GIFT NIFTY started at 6:30 am and lasted for 9 hours.
- The second session opens at 4:35 pm and lasts for 10 hours.
Time of Gift Nifty Closing:-
- In the Asia time zone, the first GIFT NIFTY session lasts till 3:40 p.m.
- The second session, which is targeted at investors from the US and Europe, continues until 2:45 am on the next day.
How Gift NIFTY, Gift Nifty Futures Live, Impact on Share Market ?
- As per experts, the shift will boost GIFT City to become a true international. The change will swiftly speed up GIFT City’s transition into a truly global city. Currently, each sale transaction is liable for a tax deduction at source, and the attestation of documentation issued by embassies is required in order to open an NRI account.
- This shift will help GIFT City establish itself as a leading global financial services hub by significantly increasing trading volumes and liquidity. This would attract more market intermediaries, traders, and investors.
- India’s integration with the global financial sector and its increasing international recognition would both be improved by the SGX Nifty’s relocation to GIFT City, India.
- Investors will profit from the SGX Nifty shift because the NSE IX operates out of a Special Economic Zone (SEZ), which allows them to allowances from capital gains waiver, dividend payment tax, commodity transaction tax, and securities transaction tax.
What are other names used for GIFT NIFTY?
Some of the common names / alias used for GIFT Nifty are Gujarat International Finance Tec-City, Gift Nifty Live, Gift Nifty Futures, Gift Nifty Futures Live, Gift Nifty Index, Gift Nifty Chart, Gift Nifty Future, Gift Nifty Live Price, Gift Nifty Live Chart.
Gujarat International Finance Tec-City
Singapore Exchange SGX.
It follows the trading hours of the Indian stock market, with trading sessions in line with the NSE’s timings.
SGX Nifty trading occurs during the trading hours of the SGX, which are different from the Indian market hours. It provides opportunities for trading on the Nifty 50 index even when the Indian markets are closed.
Location and Exchange:
GIFT Nifty is traded on the Gujarat International Finance Tec-City (GIFT City) International Financial Services Centre (IFSC) exchange in India. It is an onshore derivative product.
SGX Nifty is traded on the Singapore Exchange (SGX) in Singapore. It is an offshore derivative product.
It falls under the regulatory jurisdiction of Indian financial authorities and is subject to Indian financial regulations and taxation.
As an offshore derivative, SGX Nifty is subject to the regulatory framework of Singapore and is not directly regulated by Indian authorities. Tax implications may also differ.
Liquidity and Participation:
GIFT Nifty typically sees higher participation from domestic investors and traders.
SGX Nifty attracts a mix of international and Indian investors, making it a more globally accessible product.