In a notable milestone, the GIFT Nifty soared to unprecedented heights in single-day trading, registering a volume of 4,27,925 contracts and a remarkable turnover of $16.76 billion (approximately Rs 1,39,766 crore) on November 28, 2023, as reported by NSE IX.
This achievement not only surpassed the previous record for single-day trading turnover, set at $15.25 billion on September 26, 2023, but also marked a new pinnacle in open interest at $13.51 billion, surpassing the prior record of $12.75 billion on November 27, 2023.
The surge in trading activity on the NSE IX has been exponential since the full-scale operation of GIFT Nifty commenced on July 3, 2023. Since then, GIFT Nifty has witnessed a cumulative volume of over 7.87 million contracts, with a total turnover reaching $304.07 billion.
Formerly known as SGX Nifty and traded on the Singapore Stock Exchange, GIFT Nifty, now part of NSE IX, traded at 20,116.50 as of 2.45 pm on November 29, experiencing a 0.54 percent increase. Traders commonly use this security to speculate on the potential opening of the Nifty each day.
NSE IX, an affiliate of the National Stock Exchange, operates as an international multi-assets exchange located in GIFT City, recognized by the International Financial Services Centre Authority. Offering a diverse portfolio of products, NSE IX includes Indian single stock derivatives, index derivatives, currency derivatives, depository receipts, commodity derivatives, and global stocks.
