Gift Nifty

5 Jul 2023

Context: 

The popular SGX Nifty is rebranded as GIFT NIFTY and all the derivative contracts worth $7.5 billion, earlier traded in Singapore, will shift to India.

Background: 

  • Nifty or Nifty50 is a famous index comprising the top 50 listed Indian companies that trade on the National Stock Exchange (NSE). 
  • SGX Nifty is a derivative contract traded on the Singapore Stock Exchange based on Nifty 50 Index. 
  • As trade in Nifty 50 futures on the NSE, foreign investors trade on SGX Nifty at the Singapore stock exchange in dollar terms.

About GIFT NIFTY:

  • It is the first of its kind trading link, with trading and matching in India and clearing and settlement in Singapore.
  • On June 30, trading on SGX NIFTY ceased in Singapore and the entire trading volume and liquidity fully switched to GIFT IFSC. Therefore, it was rechristened GIFT Nifty. 
  • Products offered under GIFT Nifty
    • GIFT Nifty 50
    • GIFT Nifty Bank
    • GIFT Nifty Financial Services
    • GIFT Nifty IT derivatives contract.
  • Significance: 
    • This is for the first time, India will get an international contract which was earlier exported out of India.
    • It will help Indian markets to increase their reach among global investors, especially those who are not directly engaged with Indian capital markets.
About GIFT City:

  • GIFT (Gujarat International Finance Tec-City) City is located in Gandhinagar, Gujarat.
  • It consists of a multi-service Special Economic Zone (SEZ), which houses India’s first International Financial Services Centre (IFSC) and an exclusive Domestic Tariff Area (DTA).
  • GIFT City is envisaged as an integrated hub for financial and technology services not just for India but for the world.

News Source: Indian Express

Archive Calendar

Mon Tue Wed Thu Fri Sat Sun
 123
45678910
11121314151617
18192021222324
25262728293031

Need help preparing for UPSC or State PSCs?

Connect with our experts to get free counselling & start preparing

Know about Physics Wallah

Physics Wallah is an Indian online education platform, that provides accessible & comprehensive learning experiences to students of classes 6 to 12 and those preparing for JEE and NEET exams. We also provide extensive NCERT solutions, sample papers, NEET, JEE Mains, BITSAT previous year papers, which makes us a one-stop solution for all resources. Physics Wallah also caters to over 3.5 million registered students and over 78 lakh+ Youtube subscribers with 4.8 rating on its app.

We Stand Out because

We successfully provide students with intensive courses by India's qualified & experienced faculties. PW strives to make the learning experience comprehensive and accessible for students of all sections of society. We believe in empowering every single student who couldn't dream of a good career in engineering and medical field earlier.

Our Key Focus Areas

Physics Wallah’s main focus is to create accessible learning experiences for students all over India. With courses like Lakshya, Udaan, Arjuna & many others, we have been able to provide a ready solution for lakhs of aspirants. From providing Chemistry, Maths, Physics formulae to giving e-books of eminent authors, PW aims to provide reliable solutions for student prep.

What Makes Us Different

Physics Wallah strives to develop a comprehensive pedagogical structure for students, where they get a state-of-the-art learning experience with study material and resources. Apart from catering students preparing for JEE Mains and NEET, PW also provides study material for each state board like Uttar Pradesh, Bihar, and others.

Aiming for UPSC?

Download Our App

# #
Quick Revise Now !
AVAILABLE FOR DOWNLOAD SOON
UDAAN PRELIMS WALLAH
Comprehensive coverage with a concise format
Integration of PYQ within the booklet
Designed as per recent trends of Prelims questions
हिंदी में भी उपलब्ध
Quick Revise Now !
UDAAN PRELIMS WALLAH
Comprehensive coverage with a concise format
Integration of PYQ within the booklet
Designed as per recent trends of Prelims questions
हिंदी में भी उपलब्ध

<div class="new-fform">






    </div>

    Subscribe our Newsletter
    Sign up now for our exclusive newsletter and be the first to know about our latest Initiatives, Quality Content, and much more.
    *Promise! We won't spam you.
    Yes! I want to Subscribe.