GIFT Nifty Clocks $100.7 Billion Turnover In September, Highest Ever

GIFT Nifty, a futures contract linked to the benchmark Nifty 50 index, posted a record $100.7 billion of turnover in September. The month saw a total of 19,75,468 contracts, the highest ever.

The turnover surpasses the previous peak of $100.13 billion set in August, NSE International Exchange said in a statement on Tuesday.

The milestone reflects the growing global interest and trust in the GIFT Nifty as a benchmark for the India's growth story, the company said.

Since the launch of full-scale operations in July 2023, GIFT Nifty has recorded a cumulative volume exceeding 27.11 million contracts, with a total turnover of $1.18 trillion as of September 2024, NSE IX said.

The NSE IX is an international multi assets exchange set up at GIFT City in Gujarat on June 5, 2017, and recognised by International Financial Services Centre Authority. It offers a diversified portfolio of products, including Indian single stock derivatives, index derivatives, currency derivatives, depository receipts and global stocks.

The exchange provides a comprehensive range of primary market products, including listing of equity shares, REITs, InvITs, depository receipts, debt securities and ESG debt securities under the regulatory framework.

GIFT Nifty is traded on NSE IX for 16 hours, offering global investors an opportunity to engage with the Indian stock market during extended hours. The first session runs from 6:30 a.m. to 3:40 p.m., and the second session is from 4:35 p.m. to 2:45 a.m.