Friday marked a watershed moment for GIFT Nifty, as it notched up 4,57,989 contracts and a mind-blowing $23.48 billion turnover—the highest in its history. Outpacing the prior record of $22.88 billion from January 23, this surge spotlights the vibrancy of India’s derivatives scene at GIFT City.
From its operational launch on July 3, 2023, NSE IX’s flagship product has traded north of 60 million contracts, accumulating $2.76 trillion overall. Industry veterans see it as a barometer of India’s equity market ascent, driven by international investor enthusiasm.
Pioneered in 2017 under IFSCA oversight, NSE IX boasts dominant 99.6% share in GIFT IFSC. Its portfolio is expansive: single stock and index derivatives, currencies, DRs, global equities, plus listings for equities, SPACs, REITs, debt, and ESG securities per 2024 rules.
The exchange previously touted October’s $106.22 billion monthly haul from 2.11 million contracts. Officials lauded traders for this latest triumph. As offshore access to Indian markets gains traction, GIFT Nifty’s record run promises sustained innovation and growth.