Yes, Gift Nifty is the new name of SGX Nifty. On July 3, 2023, the SGX Nifty futures contracts were rebranded as Gift Nifty and moved to the NSE International Exchange (NSE IX) in Gandhinagar, India. This was done as part of a five-year agreement between the NSE and SGX.
The move to rename SGX Nifty as Gift Nifty was seen as a way to boost trading activity in India and to attract foreign investors. It is also seen as a way to reduce the reliance on the Singapore Exchange for trading in Nifty derivatives.
The two contracts are essentially the same, but there are some minor differences. For example, Gift Nifty is traded on the NSE IX, while SGX Nifty was traded on the Singapore Exchange. Additionally, Gift Nifty has a wider trading window than SGX Nifty, which was only traded from 8:30 AM to 5:00 PM, as per Singapore Standard Time.
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Overall, the renaming of SGX Nifty to Gift Nifty is a positive development for the Indian financial markets. It is a move that is likely to boost trading activity and attract foreign investors.
