New Delhi: GIFT Nifty derivatives on the NSE International Exchange (NSE IX) recorded brisk activity on Monday and witnessed record-setting single day trading.
There was trading activity of more than 2.14 lakh contracts, with a turnover of $8.5 billion.
This marks a significant & big surge from its first-day full scale operations. On first trading day, the operations volume stood at 33,570 contracts with a turnover of $1.21 billion.
This implies that the derivatives trade contract volume & turnover volume increased by more than 530% and 600% respectively. The exponential rise in trading activity on the NSE IX has been continuous since July 3, when it commenced full-scale operations.
After the full-scale operations of The Connect began, GIFT Nifty has recorded a total trading volume of 7.87 lakh contracts with turnover of $30.28 billion.
The high volume of trade in GIFT Nifty shows how the index has been approached & invested in, by the international investors.
What makes GIFT Nifty a popular & sought-after market property is its service to wide array of derivative accounts. It offers access to Gift Nifty 50, Gift Nifty Bank, Gift Nifty Financial Services and Gift Nifty IT derivative contracts on NSE IX.
Also, its trading hours overlap with Asia, Europe & US trading sessions and hence provides more time & space for investors to exercise their orders. GIFT Nifty remains open for as long as 21 hours in a day and hence provides opportunity to investors from across the globe. It serves as a trading extravaganza where the activity never stops.
Gift Nifty is available to users in two sessions. It first opens from 6.30 AM to 3.40 PM and then again operates from 4:35 pm to 2:45 am in the second session.
It also offers access to USD-denominated Nifty derivatives at NSE IX.
