GIFT Nifty hit a fresh all-time high on September 25 with $23.67 billion (~₹2.27 lakh crore) in single-day turnover, across 5.12 lakh contracts. Open interest also hit a record $21.87 billion.
I think the bigger story here isn’t just the $23.67B headline. It’s how quickly GIFT Nifty is becoming a serious venue for global investors to express views on Indian markets. The combination of USD settlement, international access, extended trading hours and growing liquidity makes it much more useful than simply being a “Nifty indicator” before the Indian market opens.
Do you think this reflects growing global interest in India, or is the headline number making the derivatives activity look bigger than it really is ?
This was always the case. Earlier it was SGX nifty traded in Singapore.That used to be venue for global investors. Since govt forced SGX nifty to move to GIFT, global investors moved to it.
I mean this is great for GIFT city, but does not mean that global interest in India is coming for first time. Earlier they traded SGX nifty, now GIFT nifty. Only the tools have changed
I remember when SGX Nifty was the first thing many of us checked before the Indian market opened. But one thing I must say is Gift nifty isnt as accurate as SGX nifty. Nifty always opens with a difference whereas SGX wouldnt and remained near.
Over time, GIFT Nifty has simply taken that role forward with a more India-focused setup and longer trading hours. So I agree the global interest isn’t new; the venue and the tools have evolved. The interesting part now is how much more useful GIFT Nifty can become as liquidity and participation continue to grow.
