The GIFT Nifty is a rebranded form of the earlier SGX Nifty. The Gujarat International Finance Tec-City or GIFT City is the place wherefrom the GIFT Nifty originates. The international exchange of NSE, the NSE IX controls the GIFT Nifty. On this page let us find the GIFT Nifty live price today with trend analysis and chart.
Similar to all other indices, GIFT Nifty is a futures contract. It is similar to the Nifty 50 index, the Nifty futures contract. Traders trading in Indian exchanges, NSE and BSE may follow the daily trading data available about GIFT Nifty. Hence, this contract is a cross-border initiative of the NSE to be in sync with the international stock exchanges.
GIFT Nifty Live Price Today
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What is GIFT Nifty Index?
Gift Nity is a futures contract similar to the NSE futures. The GIFTNifty is traded in the international NSE exchange located in GIFT City, Gandhinagar, Gujarat. Though the GIFTNifty is similar to NSE Nifty they are not the same. The GIFTNifty is primarily dollar-denominated Nifty, traded in the international exchange of the National Exchange of India. GIFTNifty is also based on Nifty 50.
Traders can trade GIFTNifty only in NSE IFSC (International Financial Service Centre) exchange. Domestic regular NSE trading platforms do not provide trading in Giftnity or similar products.
Why is the Live Price of GIFT Nifty Today Important for Indian Traders
Traders can trade GIFT Nifty daily for 21 hours in synchronization with the capital market of Singapore and other international markets. Because of the long trading hours, GIFTNifty gets exposure to the international capital market. GIFTNifty data gives us an early indication of traders’ sentiment toward the international capital market.
Traders consider GIFTNifty as an early indicator of the Indian capital market before trading hours begin at the national exchanges (NSE and BSE). Therefore, traders and investors love to keep track of the GIFTNifty data before and after market hours.
How can a Trader Check GIFTNifty Live Chart Today?
Traders can check GIFTNifty live chart from many brokers in India. A trader can find the GIFTNifty live price of today in MoneyControl and many other websites. On the MoneyControl website, it is available in their Global Indices section. Also, TradingView provides GIFTNifty live chart.
History of GiftNifty
GIFTNifty is a futures contract traded in the international exchange of NSE located in GIFT City, Gujarat. GIFTNifty started its journey on July 04, 2023. Earlier the SGX Nifty, popularly known as Singapore Nifty, is a Nifty futures contract traded in the NSE international exchange, It can only be traded in dollar denomination. From July 3, 2023, the SGX ceased to exist. Indices amounting to a total value of 7.5 billion dollars started trading in the Gift City exchange in the name of GIFT Nifty from July 4, 2023, onwards.
This index is a cross-border initiative from NSE to accommodate foreign traders to directly trade in Nifty in dollars. This has enabled foreign investors and traders to directly trade indifferent indices of NSE in the international exchange in dollars. The Government of India gives tax benefits directly to foreign traders who trade in GIFTNifty. Though GIFTNifty is at a very nascent stage, it has attracted a lot of foreign investors. The GIFTNifty and other NSE indices in NSE IFSC allow direct trades in dollars and are open for trading for 21 hours daily.
The GIFTNifty falls under the preview of SEBI. Therefore, traders trading in GIFTNifty enjoy all the benefits and secured trading environments similar to the traders of India. And that includes tax benefits from GOI (Government of India) as well.
Presenting Advantages to Foreign Traders
GIFT City falls under the SEZ (Special Economic Zone) category. It is a tax-free zone. It also has simplified rules and regulations. Therefore, all the foreign traders trading in GIFTNifty enjoy immense benefits. They can the trading profit home without paying any extra taxes from their profit.
There are four types of derivative contracts currently under GIFTNifty. They are GIFT Nifty 50, GIFT Nifty Bank, GIFT Nifty Financial Services and GIFT Nifty IT.
How is GIFT Nifty Different from SGX Nifty?
SGX Nifty is rechristened or rebranded as GIFTNifty. Currently, the SGX Nifty does not exist any more. To be precise, the SGX nifty ceased to exist on July 3, 2023. Since July 4, 2023, Monday it is only GIFTNifty. Financial assets amounting to $7.5 billion were also transferred to GIFTNifty.
Timeline of SGX and GIFTNifty since inception
If we consider the journey of the Nifty, we can see it is relatively new in comparison to other international indices. The Indian exchange launched Nifty, the benchmark NSE index in the year 1990.
In 2004, the Nifty futures and options derivatives were introduced in the Singapore International Exchange or the SGX. Since then foreign traders and investors traded in the NSE indices under SGX.
This year, July 4, saw the introduction of GIFT Nifty in the NSE International Exchange located in the GIFT City, Gandhinagar, Gujarat. Just before that day, the SGX nifty ceased to exist on July 3, Sunday, 2023.
From now on, foreign traders can directly trade in the GIFT City exchange only in Dollar denominations. They can trade in all the indices available in the GIFT City exchange.
What are the Derivatives Available Under NSE IFSC or NSE International Exchange?
Currently, foreign traders can trade only in four NSE indices in the GIFT City exchange. They are GIFT Nifty 50, GIFT Nifty Bank, GIFT Nifty Financial Services and GIFT Nifty IT.
FAQ
Giftnifty is a Nifty futures derivative traded in dollar denominations.
Traders can trade in GIFTNifty in the NSE IFSC, the NSE international exchange located at GIFT City, Gandhinagar, Gujarat. Foreigners can trade the index only in dollar denominations.
International traders and non-resident traders can enjoy tax exemptions like exemption from capital gains, exemption from STT, exemption from stamp duty etc. when trading in GIftnifty.
No, a resident Indian can not trade in Giftnifty because of dollar remittance restrictions.
If you live in any other country, you can create an FPI (Foreign Investor Portfolio) account in India and trade in Giftnifty derivatives.
GIFTNifty is enlisted in the Singapore exchange. Therefore you can track it from anywhere on the internet.
The trading time of GIFTNifty has two daily sessions. From 6:30 am in the morning till 03.40 pm in the afternoon is the first session. The second session starts at 04:35 pm and ends at 02:45 am. Daily it has 21 trading hours.
What are the Advantages of GIFT Nifty?
The Gift City will soon become an exchange for the international money market. Moreover, traders can trade in different global financial assets in this exchange. Hence, Foreign traders who will trade in GIFTNifty and other national indices can enjoy tax-free profit which they can take away home. In addition, SEBI will provide a secure trading environment because this exchange falls under SEBI regulations.
GIFTNifty is a very liquid asset. Therefore traders can easily enter and exit the trades at their convenience. Traders can trade GIFTNifty only in Dollars. Therefore, it is an attractive trading option for foreign traders.
Conclusion
In conclusion, staying updated with the GIFT Nifty and its live price for today is crucial for investors in India’s stock market. This international derivative enables them to predict how the Nifty index will move when the Indian market opens. By constantly monitoring its performance, investors can make informed decisions and potentially gain a competitive edge in their trading activities. Therefore, whether you’re an experienced trader or just beginning your journey into investing, keeping a close eye on GIFT Nifty serves as an essential step towards maximizing your investment returns.