GIFT Nifty sets record monthly turnover of $95.55 bn in June

GIFT Nifty sets record monthly turnover of $95.55 bn in June

GIFT Nifty, which are traded on NSE, recorded a new milestone of achieving all-time high monthly turnover of $95.55 billion ( equivalent to Rs 7.9 lakh crore) as on June 27, 2024. The benchmark recorded its highest-ever monthly turnover of 21,23,014 contracts in the said month.

This surpasses its previous record of $91.73 billion set in May 2024, NSE said in a statement.

Trading turnover on NSE IX has been growing exponentially since commencement of a full-scale operation of GIFT Nifty on July 3, 2023. Since the first day of full-scale operations, GIFT Nifty saw a total cumulative volume of over 21.06 million contracts with total cumulative turnover of $881.26 billion till June 27.

"This milestone reflects the growing global interest and trust in the GIFT Nifty as a benchmark for the India’s growth story. We are glad to witness the success of GIFT Nifty and express our sincere gratitude to all the participants for their overwhelming support and making GIFT Nifty a successful contract," NSE added.

NSE IX offers a diversified portfolio of products including single stock derivatives, index derivatives, currency derivatives, depository receipts and global stocks. It is an international multi-asset exchange established at GIFT City on June 5, 2017.

The exchange provides a comprehensive range of primary market products including listing of equity shares, SPAC, REITs, InvITs, depository receipts, debt securities and ESG debt securities under the regulatory framework of the International Financial Services Centre Authority (IFSCA).