What is Gift Nifty? — Meaning, NSE IFSC & How It Works

Gift Nifty is a US-dollar-denominated futures contract on India’s Nifty 50 index, traded on the NSE IFSC exchange in GIFT City, Gujarat. It is the successor to the former SGX Nifty, which migrated from the Singapore Exchange to NSE IFSC in 2023. Because it trades for almost 21 hours a day, Gift Nifty is the most widely watched early indicator of how Indian markets are likely to open.

GIFT NIFTY NSE IFSC · Nifty Futures
Market Open
24,084.50
▼ -30.50 (-0.13%)
Open24,054.00
High24,282.00
Low24,017.50
Prev Close24,115.00

Gift Nifty is trading at 24,084.50, down 30.50 (-0.13%) as of Jun 25, 21:24 IST on 25 Jun 2026.

Last updated: Jun 25, 21:24 IST · 25 Jun 2026

What is Gift Nifty?

Gift Nifty (full name: GIFT Nifty / NSE IFSC Nifty 50 futures) is a derivative contract whose value tracks the Nifty 50, the benchmark index of India’s 50 largest listed companies. Key facts:

  • Where it trades: NSE IFSC Limited, a subsidiary of the National Stock Exchange, located in the International Financial Services Centre (IFSC) at GIFT City, Gandhinagar.
  • Currency: quoted and settled in US dollars, which is what makes it attractive to foreign and NRI investors.
  • Regulator: the International Financial Services Centres Authority (IFSCA).
  • Trading hours: nearly 21 hours across two sessions, so it captures overnight moves in US and Asian markets. See Gift Nifty trading hours for the exact session timings.

Why was SGX Nifty renamed Gift Nifty?

For years, Nifty 50 futures traded on the Singapore Exchange as “SGX Nifty”. Under an agreement between NSE and SGX, those contracts and their open interest were shifted to NSE IFSC in GIFT City. From July 2023 the contract trades exclusively as Gift Nifty. The full background is covered in our explainer: Is Gift Nifty the new name of SGX Nifty?

Why does Gift Nifty matter?

Because Gift Nifty keeps trading long after Indian cash markets close and before they reopen, the difference between its latest price and the previous Nifty 50 close — the implied gap — signals the likely opening direction for the Nifty 50. Traders, the financial media and analysts use it every morning as a pre-market cue. You can see the live signal on our Gift Nifty implied-open page or model it yourself with the gap calculator.

Gift Nifty vs Nifty 50, SGX Nifty and Bank Nifty

  • Gift Nifty vs Nifty 50: Nifty 50 is the underlying spot index; Gift Nifty is a USD futures contract on it. See Gift Nifty vs Nifty 50.
  • Gift Nifty vs SGX Nifty: same contract lineage, new venue — SGX Nifty became Gift Nifty.
  • Gift Bank Nifty: a separate USD futures contract on the Nifty Bank index, also on NSE IFSC. See Gift Bank Nifty live.

Start here — the Gift Nifty knowledge hub

Frequently Asked Questions

What is Gift Nifty in simple terms?
Gift Nifty is a US-dollar futures contract on India's Nifty 50 index, traded on the NSE IFSC exchange in GIFT City, Gujarat. It lets investors take a view on the Nifty 50 almost around the clock and is the successor to the old SGX Nifty.
Is Gift Nifty the same as Nifty 50?
They are closely linked but not identical. Nifty 50 is the underlying spot index of India's 50 largest companies. Gift Nifty is a futures contract whose price tracks the Nifty 50 but includes a small cost-of-carry premium and trades in US dollars on NSE IFSC.
Who can trade Gift Nifty?
Eligible investors — including foreign portfolio investors, NRIs and other permitted participants — can trade Gift Nifty through brokers registered with NSE IFSC, subject to KYC and IFSCA regulations. Retail participation is possible through those brokers.
What does GIFT in Gift Nifty stand for?
GIFT stands for Gujarat International Finance Tec-City, the special financial zone near Gandhinagar that hosts India's International Financial Services Centre, where NSE IFSC operates the Gift Nifty contract.

For information and education only — not investment advice. Derivatives carry a high risk of loss.