GIFT Nifty nearing $100 billion monthly turnover milestone

GIFT Nifty, which stands as a new benchmark to the growth story of the Indian equity market, recorded its highest ever monthly turnover of 21.23 lakh contracts worth Rs 7,97,714 crore or US $95.55 billion during the month of June.

This is an all-time high monthly turnover for GIFT Nifty, surpassing its previous record of US $91.73 billion set in May 2024 itself.

The trading turnover on NSE IX, a fully owned subsidiary of the NSE, has been growing exponentially since commencement of a full-scale operation of GIFT Nifty on July 3, 2023.

Since the first day of full-scale operations, GIFT Nifty has witnessed a total cumulative volume of over 2.10 crore contracts with a cumulative turnover of US $881.26 billion till June 27, 2024.

“This milestone reflects the growing global interest and trust in the GIFT Nifty as a benchmark for the India’s growth story. We are glad to witness the success of GIFT Nifty and express our sincere gratitude to all the participants for their overwhelming support and making GIFT Nifty a successful contract,” said NSE IX in a release.Also read: Jio Financial and Zomato could join derivatives segment, Nifty50

NSE IX is an International multi assets exchange set up at GIFT City in June 2017 and is recognized by the International Financial Services Centre Authority. The exchange offers a diversified portfolio of products including Indian Single Stock Derivatives, Index Derivatives, Currency Derivatives, Depository Receipts and Global Stocks.

According to the Trendlyne data, GIFT Nifty has better 1 year returns than S&P 500 and Dow Jones Industrial Average index.

GIFT Nifty closed at 24,120 around 2:30 am, after making a new all-time high of Rs 24,274 on June 29, as per the Trendlyne data.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

FOLLOW US ON GOOGLE NEWS

Read original article here

Denial of responsibility! Secular Times is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – seculartimes.com. The content will be deleted within 24 hours.

Leave a Comment