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GIFT Nifty is one of the most closely tracked global indicators for the Indian stock market. Earlier known as SGX Nifty, it represents derivative contracts based on the Nifty 50 index and is widely used by traders to anticipate how Indian markets may open.
Because GIFT Nifty trades beyond regular Indian market hours, it reflects overnight global cues, US market performance, and international investor sentiment, making it a key reference point for traders across Asia.
GIFT Nifty is a futures contract based on the Nifty 50 index, traded on the NSE International Exchange (NSE IX) located in GIFT City, Gujarat.
It allows global investors to trade Nifty-linked contracts outside the regular NSE trading hours. Essentially, GIFT Nifty mirrors expectations about how the Indian equity market—specifically the Nifty 50—will perform.
It is now the official offshore derivative contract linked to the Nifty 50.
Before GIFT Nifty, Nifty 50 derivative contracts were traded on the Singapore Exchange (SGX) under the name SGX Nifty.
SGX Nifty:
Was popular among foreign investors
Acted as a pre-market indicator for Indian markets
Reflected global sentiment towards Indian equities
However, to bring offshore trading activity under Indian regulatory control, SGX Nifty was transitioned to GIFT City.
The shift from SGX Nifty to GIFT Nifty was part of India’s broader effort to:
Develop GIFT City as an international financial hub
Bring offshore Nifty trading back under Indian jurisdiction
Strengthen regulatory oversight
After the transition, Nifty futures contracts previously traded in Singapore began trading on the NSE International Exchange (NSE IX) as GIFT Nifty.
The shift from SGX Nifty to GIFT Nifty was part of India’s broader effort to:
Develop GIFT City as an international financial hub
Bring offshore Nifty trading back under Indian jurisdiction
Strengthen regulatory oversight
After the transition, Nifty futures contracts previously traded in Singapore began trading on the NSE International Exchange (NSE IX) as GIFT Nifty.
One of the biggest advantages of GIFT Nifty is its extended trading hours.
Trades nearly 24 hours a day, five days a week
Operates in multiple sessions
Continues trading when Indian markets are closed
In contrast, NSE operates from 9:15 AM to 3:30 PM IST.
This extended window makes GIFT Nifty a powerful tool for tracking global sentiment before the Indian market opens.