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Gift Nifty

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

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 Final Result – CIVIL SERVICES EXAMINATION, 2023.   Udaan-Prelims Wallah ( Static ) booklets 2024 released both in english and hindi : Download from Here!     Download UPSC Mains 2023 Question Papers PDF  Free Initiative links -1) Download Prahaar 3.0 for Mains Current Affairs PDF both in English and Hindi 2) Daily Main Answer Writing  , 3) Daily Current Affairs , Editorial Analysis and quiz ,  4) PDF Downloads  UPSC Prelims 2023 Trend Analysis cut-off and answer key

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 Final Result – CIVIL SERVICES EXAMINATION, 2023.   Udaan-Prelims Wallah ( Static ) booklets 2024 released both in english and hindi : Download from Here!     Download UPSC Mains 2023 Question Papers PDF  Free Initiative links -1) Download Prahaar 3.0 for Mains Current Affairs PDF both in English and Hindi 2) Daily Main Answer Writing  , 3) Daily Current Affairs , Editorial Analysis and quiz ,  4) PDF Downloads  UPSC Prelims 2023 Trend Analysis cut-off and answer key

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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

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