what is gift nifty

GIFT Nifty is a financial index that serves as an indicator for the Indian stock market. It was rebranded from SGX Nifty and shifted to the new international exchange NSE IFSC in GIFT City, Gandhinagar, Gujarat. The SGX Nifty had long been a key indicator for Indias domestic stock market indices. GIFT Nifty is the first cross-border initiative connecting India and Singapores capital markets. It is an index derivative contract based on the price of company stocks. While people can directly trade company stocks with each other, they can also separately trade these derivatives. GIFT Nifty operates in two trading sessions, the first session runs from 4:30 am to 2:00 pm IST, and the second session is from 3:30 pm to 11:30 pm IST. The extended trading window aims to align with international market timings. The transition to GIFT Nifty was part of a broader strategy to centralize international financial services in GIFT City, a hub for Indias financial sector and a key initiative under the Smart Cities Mission led by Prime Minister Narendra Modi.