First Day GIFT Nifty is a new Nifty derivative contract that will be traded on the NSE International Exchange in Gandhinagar. It is a rebranding of the SGX Nifty, which was previously traded on the Singapore Exchange. The GIFT Nifty will start trading on July 3, 2023, and will be available for trading 21 hours a day, from 4:00 AM IST to 2:00 AM IST the following day.
The GIFT Nifty is expected to attract a wider range of participants, including both Indian and foreign investors. It is also expected to provide greater liquidity and price discovery for the Nifty index.
The following are some of the key features of the GIFT Nifty:
- It is a USD-denominated contract, which makes it more accessible to foreign investors.
- It is traded on the NSE IX, which is a recognized international financial centre.
- It has a longer trading hours than the SGX Nifty, which will allow investors to trade in the Nifty index throughout the day.
- It is expected to attract a wider range of participants, which will improve liquidity and price discovery.
If you are interested in trading in the GIFT Nifty, you will need to open an account with a broker that is a member of the NSE IX. You can find a list of NSE IX members on the NSE IX website.
Also Read :- Multibagger Stock Formula is Found Get Details
Here are some of the benefits of trading in the GIFT Nifty:
Greater liquidity: The GIFT Nifty is expected to attract a wider range of participants, which will improve liquidity and price discovery. This means that you will be able to trade more easily and at better prices.
Longer trading hours: The GIFT Nifty is traded for 21 hours a day, which gives you more flexibility to trade when it suits you.
International exposure: The GIFT Nifty is a USD-denominated contract, which gives you exposure to the Indian market without having to convert your currency.
Tax benefits: The GIFT Nifty is traded in the International Financial Services Centre (IFSC) in Gandhinagar, Gujarat. This means that you may be eligible for certain tax benefits, such as lower withholding tax rates.
If you are considering trading in the GIFT Nifty, it is important to do your research and understand the risks involved. You should also speak to a financial advisor to get personalized advice on whether the GIFT Nifty is right for you.