GIFT Nifty: SGX Nifty becomes GIFT Nifty from today, SGX Nifty will be delisted – know what will change

GIFT Nifty: There has been a change in Singapore Stock Exchange and SGX Nifty from today. SGX Nifty will be known as GIFT Nifty from today to get the correct picture of Indian stock markets and their opening. After its rebranding, this tradition of taking reference of SGX Nifty has ended.

From today, GIFT Nifty will be the new indicator for the Indian market, replacing SGX Nifty. All derivative contracts worth $7.5 billion, which were earlier traded in Singapore, will be transferred to India’s GIFT City from today. As part of this rebranding exercise, a formal agreement will be entered into between the Singapore Stock Exchange and NSE International Financial Service Centre, a wholly owned subsidiary of NSE, and all new trades will be transferred to GIFT Nifty under this agreement.

Business will be done in two trading sessions

There will be two sessions of trading under the trade of GIFT Nifty starting from today. The first Indian time will run from 6.30 am to 3.40 pm. The second trading session will run from 5 pm to 2.45 pm.

Trading in GIFT Nifty 50, GIFT Nifty Bank, GIFT Nifty Financial Services and GIFT Nifty will be available for trading from today onwards. Through this, many changes are taking place in the trading of Nifty, which you can know here-

Firstly, all the traders who were based in Singapore under SGX Nifty will now shift to GIFT Nifty.

According to these traders, all settlement will henceforth shift to NSE International Financial Services Center which is located in GIFT City, Gandhinagar, Gujarat.

For this, this transfer will be done through a special purpose vehicle which will come under SGX India Connect IFSC or SGX ICI.

Nifty 50 contracts will be matched for trade with NSE IFSC and SGX ICI route will be used for the same.

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