Gift Nifty

Gift Nifty

SGXNIFTY-CFD 1392617
24654.5
As on 12 Jul 2024 11:58 PM

Gift Nifty Performance

Day Range

  • Low 24413.5
  • High 24675.5
24654 .5
  • Open24483
  • Previous Close24458

Gift Nifty Chart

  • 1 Day + 0.8%
  • 1 Week + 0.86%
  • 1 Month + 5.88%
  • 3 Months + 8.59%
  • 6 Months + 13.56%
  • 1 Year + 26.72%
  • 3 Year + 56.81%

Gift Nifty Technicals

EMA & SMA

Current Price
24654.5
+ 196.5 (0.8%)
pointer
  • Bullish Moving Average
  • ___
  • 16
  • Bearish Moving Average
  • ___
  • 0
  • 20 Day
  • 24017.22
  • 50 Day
  • 23249.12
  • 100 Day
  • 22819.12
  • 200 Day
  • 21787.88

Gift Nifty Resistance and Support

PIVOT
24654.5
Resistance
First Resistance 24568.5
Second Resistance 24679
Third Resistance 24833.5
RSI 68.53
MFI 0
MACD Single Line 358.56
MACD 354.25
Support
First Support 24303.5
Second Support 24149
Third Support 24038.5

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About Gift Nifty

Gift Nifty, formerly known as SGX Nifty, is a derivative contract linked to India's Nifty 50 index, originally traded on the Singapore Stock Exchange (SGX). The relocation of Gift Nifty to the NSE International Exchange (NSE IX) in Gandhinagar, India, signifies a significant shift in the landscape of trade in Indian financial markets.

Hedge funds and institutional investors utilize Gift Nifty live as a strategic tool to hedge their exposure to the Indian stock market. Additionally, traders actively engage with Gift Nifty to speculate on the future direction of the Nifty 50 index, leveraging its dynamic movements to inform their trading decisions.

The move from the Singapore Exchange to NSE IX encompasses all SGX Nifty live derivative contracts, amounting to an impressive $7.5 billion in trade value. NSE IX, situated in GIFT City, now features four financial products, namely GIFT Nifty 50, GIFT Nifty Financial Services, GIFT Nifty Bank, and GIFT Nifty IT derivative contracts.

Any trading member, whether Indian or foreign, registered or non-registered, with an office through a branch model or subsidiary, can now actively trade in the GIFT NIFTY index products upon acquiring NSE IX membership. However, it's important to note that Indian retail investors won't have exposure to GIFT Nifty products under the Liberalized Remittance Scheme (LRS).

SGX, short for the Singapore Exchange Limited, previously facilitated SGX Nifty trading for 21 hours a day, running from 6:30 a.m. to 11:30 p.m. IST. This stark contrasted with the Indian CNX Nifty's trading hours on the NSE, which spans six and a half hours (9:00 am - 6:10 pm). Gift Nifty share price movements, however, continue both before and after the opening of the Indian markets, potentially following global trends even during non-trading hours in India.

The impact of SGX Nifty on the Indian market is noteworthy, offering a valuable tool for tracking and forecasting movements in the Nifty. The time difference between SGX Nifty and the Indian Nifty provides investors with the advantage of monitoring the former to stay informed about market dynamics, thus gaining insights into the entire trading process.

As of July 3, 2023, SGX Nifty is officially rebranded as Gift Nifty. This transformation marks a substantial move in derivative trade, amounting to $7.5 billion, from the Singapore Exchange to the NSE International Exchange in Gandhinagar, Gujarat. Gift Nifty today stands as a testament to the evolving landscape of trade in Indian financial markets, offering investors new opportunities and avenues for strategic engagement.

Other Indices

Faqs

What is the Gift Nifty Index?

Gift Nifty, formerly known as SGX Nifty, is indeed a futures contract linked to the Nifty 50 index. It is traded on the NSE International Exchange for a span of 16 hours, providing a platform for global investors to engage with the Indian stock market during extended hours.

Can I trade in Gift Nifty Index in India?

Under the Liberalised Remittance Scheme (LRS), Indian retail investors will not be permitted to trade in Gift Nifty.
The Reserve Bank of India (RBI) prohibits leveraged traders, which include those who trade futures and options, from using more than $250,000 per year per person under the LRS.

What time does Gift Nifty Index open in India?

There are two trading sessions at Gift Nifty, the first from 6.30 am to 3.40 pm IST and the second from 4.35 pm to 2.45 am IST the following morning.

Disclaimer:

Derived prices are not provided by exchanges. They are derived by market makers in CFD OTC market and hence prices may not be accurate and may differ from the actual market price, meaning prices are indicative only and not appropriate for trading purposes. Therefore 5Paisa doesn't bear any responsibility for any trading losses you might incur as a result of using this data

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