GIFT Nifty records open interest of $9 billion on 1st trading day; turnover at $1.1 billion

On its first trading day, the rebranded GIFT Nifty recorded over $9 billion in open interest and $1.13 billion in turnover on the NSE International Exchange. The NSE IX-SGX GIFT Connect aims to create a bigger liquidity pool and more Nifty products for investors by unifying international and domestic participants. The benchmark Nifty 50 also benefited from the positive trading, surpassing the 19,300-mark for the first time. GIFT Nifty contracts are available for trading for approximately 21 hours, overlapping with trading hours in Asia, Europe, and the US. The integration of GIFT City with international financial markets will provide easier access for international investors.