GIFT Nifty and SGX Nifty Live: Futures and Real-Time Market Updates
Last Data Refresh: 02 Mar 2024 22:45 (IST)
GIFT Nifty Intraday Chart
Live GIFT Nifty and SGX Nifty Futures Updates
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GIFT Nifty Live Updates
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It is the first cross-border initiative in connecting India and Singapore’s capital markets.
GIFT Nifty is an important milestone for GIFT IFSC and its outreach towards foreign investors and enhancing the capital market ecosystem in GIFT City. Gift Nifty is NSE’s IFSC-SGX Connect Nifty Index, which is traded in NSE International exchange, at IFSC, Gift City Gujarat, India.
GIFT Nifty is the rebranded version of SGX Nifty as all open positions in SGX have been shifted to NSE International Exchange ISFC Limited (NSE IX) with effect from today. NSE IX is a subsidiary of NSE based in GIFT City. Stock exchanges functioning in GIFT City are permitted to offer to trade in securities in any currency other than the Indian rupee.
Now, US dollar-denominated contracts of Nifty futures will trade in NSE IX instead of the Singapore Exchange. NSE IX works under the regulatory framework of the International Financial Services Center Authority (IFSCA).
The umbrella brand GIFT City will include a total of four products, which are GIFT Nifty 50, GIFT Nifty Bank, GIFT Nifty Financial Services and GIFT Nifty IT derivative contracts.
SGX Nifty Futures Live
SGX Nifty was a very popular derivative product of Singapore Exchange as it allowed foreign investors to take a position in the Indian Market.
Traders used to navigate the global markets with our SGX Nifty futures live updates. Now track market changes, analyze price movements, and make data-driven decisions using our comprehensive Gift Nifty live feed - it is your key to staying ahead in the financial landscape.
It is the futures / derivative product of the underlying NSE Nifty index. It allows FII’s and other individuals to invest in Nifty Futures.
However, SGX Nifty has been discontinued on the Singapore Stock Exchange (SGX) from 3rd July 2023 and Gujarat International Finance-Tec (GIFT) City platform known as NSE-IFSC is launched. Following the transition, all US dollar denominated Nifty derivatives contracts will be exclusively traded on NSE IFSC.
Brief History of SGX Nifty
Singapore Exchange, in the past, had a licensing agreement with NSE that allowed it to offer trading in Nifty futures and options in Singapore. But NSE ended its licensing pact with the exchange in 2018. Following this, Singapore Exchange announced the launch of derivatives products that NSE claimed infringed its intellectual property rights. The dispute reached court and later both the parties agreed to a tie-up in September 2020.
What's the difference between SGX Nifty and GIFT Nifty?
NSE International Exchange IFSC Limited, also known as NSE IX, operates as a subsidiary of NSE within GIFT City. This strategic location allows stock exchanges in GIFT City to conduct trading in securities using currencies other than the Indian rupee. Since its inception in 2017, NSE IX has been facilitating dollar-denominated trading across various financial products.
The transition from SGX Nifty to GIFT Nifty marks a significant development. Singapore Exchange, facilitated by SGX IFSC India Connect (a specialized subsidiary), has redirected all international client orders to NSE IX for trading and execution. The clearing and settlement processes are managed through NSE IFSC Clearing Corporation, with SGX Group’s Derivatives Clearing serving as the central counterparty.
In terms of market impact, SGX Nifty futures alone achieved a daily average turnover of $3.9 billion and maintained an average open interest of $9.6 billion in 2022. This substantial turnover, previously generated offshore, has now transitioned onshore to Gujarat's Gift City. The resulting revenue will be shared between NSE and Singapore Exchange, consolidating the liquidity pool for Nifty products within the NSE IFSC exchange and offering global market participants easier access in GIFT City.
One notable distinction lies in the currency of investments. Unlike domestic stock exchanges, where foreign investors needed to hedge due to investments being in Indian rupees, investments in NSE IX are exclusively in dollar terms. This means that all Nifty derivatives traded on NSE IX are denominated in dollars, providing a seamless and convenient trading experience for market participants.
For live updates and insights on GIFT Nifty and SGX Nifty, explore our platform. Stay informed about GIFT Nifty live, Nifty futures, SGX Nifty live, SGX Nifty futures live, and more. Experience the convenience of dollar-denominated trading with NSE IX.
Gift Nifty works and helps in Trading.
By tracking Singapore Nifty, we can predict the initial direction of the Indian Stock market.
The Singapore market opens around 2 hours before the Indian market and directly relates to the NSE market.
It moves with respect to the Indian Nifty and hence can be used as a tool to predict the Indian market providing initial direction to the Indian market.
Moreover, both India and Singapore fall in the same continent, which correlates both the markets and one most often decides the sentiments of the other market.
This also makes it easy for Indian advisory and financial institutions to give trading recommendations on Nifty before opening.
Trade in GIFT NIFTY
According to NSE IX, any trading member of Indian or foreign registered or non-registered setting up its office through a subsidiary or branch model can trade in the GIFT Nifty products by getting a membership of NSE IX. Currently, there are more than 50 brokers that have set up units in the GIFT city. These trading members are permitted to execute a trade on their accounts and the account of their clients.
However, under the Liberalised Remittance Scheme (LRS), the GIFT Nifty will remain out of reach for Indian retail investors. The RBI disallows the use of the $2,50,000 per person per year for leveraged traders, including futures and options, as per LRS.
SGX IFSC India Connect, a special-purpose vehicle company of the Singapore Exchange, has started routing all the orders from international clients to NSE IX for trading and execution. The executed trades will be cleared and settled through NSE IFSC Clearing Corporation (NICCL). SGX-DC will act as the central counterparty for SGX clearing members.
Timing for Trading in GIFT NIFTY
GIFT Nifty will be available for around 19 hours, and it overlaps with Asia, Europe, and US trading hours. The GIFT NIFTY starts at 6:30 am in Asia time zone and continues till 3:40 pm. The second session from 4:35 pm to 2:45 am (next day) targets investors from the United States and Europe.
Opening Time of Gift Nifty
The GIFT NIFTY starts at 6:30 am in Asia time zone for 9 hours
And second session from 4:35 pm for 10 hours
Closing Time of Gift Nifty
The first session of GIFT NIFTY continues till 3:40 pm in Asia time zone
And the second session till 2:45 am (next day) targeting investors from the United States and Europe.
Gujarat International Finance Tec-City (GIFT City) is a central business district under construction in Gandhinagar district in Gujarat, India. It is India’s first operational greenfield smart city and international financial service Centre, which the Government of Gujarat promoted as a greenfield project.
Impact Of GIFT NIFTY
According to experts the shift will add momentum to GIFT City becoming a true international. Currently the NRI account opening process involves attestation of documents from the embassy and tax deduction at source is involved after every sale transaction.
This shift will help GIFT City to emerge as a leading international financial service centre and will significantly increase trading volumes and liquidity. This would attract more investors, traders and market intermediaries. With increased focus from the government GIFT has successfully attracted the international community’s attention within a short period with a banking asset book of $ 35 billion-plus.
The Government has ambitious plans for further growing the finance and technology at GIFT City The aim is to achieve the objectives through the financial incentives , ease of doing business and growing the infrastructure. It is also putting all its efforts to attract corporate/MNCs to set up their regional/global corporate treasury centres.
Government has even created a new financial authority that would take role of SEBI, RBI, IRDAI, PFRDA named International Financial Service Centre Authority (IFSC Authority) which would be one stop for all policy making in GIFT city. Being an IFSC many of the Foreign Exchange Management Act regulations that apply to onshore corporates are not applicable at GIFT City. This would help in creating a conducive environment to set up a cross border or regional treasury.
The SGX Nifty shift to India’s GIFT City would deepen India’s integration with the global financial sector and further strengthen India’s growing recognition in the International arena.
SGX Nifty shift will benefit the investors as the NSE IX operates out of an SEZ, making them eligible to get exemptions from Securities Transaction Tax, commodity transaction tax, dividend distribution tax and capital gains waiver.
Q: What is NSE International Exchange IFSC Limited (NSE IX)?
A: NSE IX, a subsidiary of NSE based in GIFT City, specializes in facilitating dollar-denominated trading in various financial products. It operates within the International Financial Services Centre (IFSC) in Gujarat.
Q: How does NSE IX differ from domestic stock exchanges?
A: Unlike domestic stock exchanges where foreign investors often needed to hedge due to investments being in Indian rupees, investments in NSE IX are exclusively in dollar terms, offering a seamless trading experience for global participants.
Q: What is the significance of the transition from SGX Nifty to GIFT Nifty?
A: The transition signifies a major shift in trading dynamics. With SGX Nifty futures transitioning onshore to Gujarat's Gift City, NSE IX becomes the focal point for Nifty products, consolidating liquidity and enhancing accessibility for global market participants.
Q: How does the SGX IFSC India Connect facilitate trading with NSE IX?
A: SGX IFSC India Connect, a special purpose vehicle company, plays a crucial role in routing international client orders to NSE IX for trading and execution. Clearing and settlement processes are handled through NSE IFSC Clearing Corporation.
Q: What is the average turnover of SGX Nifty futures and its impact on NSE IX?
A: In 2022, SGX Nifty futures alone generated a daily average turnover of $3.9 billion and maintained an average open interest of $9.6 billion. This substantial turnover, now onshore in Gujarat's Gift City, contributes to the revenue shared between NSE and Singapore Exchange.
Q: How can users stay updated on GIFT Nifty and SGX Nifty live updates?
A: Users can stay informed by exploring our platform, which provides real-time updates, live charts, and comprehensive analysis for GIFT Nifty, SGX Nifty, Nifty futures, SGX Nifty live, SGX Nifty futures live, and more.
Q: Is there a premium service available for enhanced features?
A: Yes, users can subscribe to our premium service for exclusive features, advanced analytics, and enhanced market insights. This premium access elevates the trading experience on NSE IX.
Explore our page for more information on GIFT Nifty, SGX Nifty, and dollar-denominated trading.