GIFT Nifty, Earlier SGX Nifty, started trading from July 2023

What is GIFT NIFTY, which started trading from July 3

GIFT NIFTY is the first cross-border initiative in connecting India and Singapore’s capital markets.

Rechristened GIFT NIFTY, the popular Singapore Exchange (SGX) NIFTY started trading from GIFT City in Gujarat Monday, executing over 30,000 trades in a single session.

Gift Nifty Futures Live is a priceless resource for traders and investors who enjoy following the Nifty Futures market in real-time. 

After moving from the Singapore Exchange (SGX) to the GIFT IFSC in (GIFT City) Gandhinagar district in Gujarat, India. On July 3, 2023, the current SGX Nifty Futures & Options contracts will be replaced by the new name of GIFT (Gujarat International Finance Tec-City) Nifty, which was revealed by the NSE IFSC-SGX. It is the first international effort to establish a connection between the capital markets of Singapore and India.

A significant turning point for GIFT IFSC’s outreach to international investors and the improvement of GIFT City’s capital market environment is GIFT Nifty. The NSE International Exchange trades the Gift Nifty, Gift Nifty Futures, which is the IFSC-SGX Connect Nifty Index, at IFSC, Gift City, Gujarat, India.

(Gujarat International Finance Tec-City) Gift Nifty is something that is used by institutional investors and hedge funds to manage their exposure to the Indian stock market. It is also used by traders to make predictions about the future course of the Nifty 50 index.

What is the GIFT NIFTY opening time?

GIFT Nifty will be accessible for around 19 hours, coinciding with trading hours in Asia, Europe, and the US. In the Asia time zone, the GIFT NIFTY begins at 6:30 am and lasts until 3:40 p.m. The next session, which runs from 4:35 p.m. to 2:45 a.m. the next day, is aimed at the United States and European investors.

When Gift Nifty Opens:-

• In Asia, the GIFT NIFTY started at 6:30 am and lasted for 9 hours.
• The second session opens at 4:35 pm and lasts for 10 hours.

Time of Gift Nifty Closing:-

• In the Asia time zone, the first GIFT NIFTY session lasts till 3:40 p.m.
• The second session, which is targeted at investors from the US and Europe, continues until 2:45 am on the next day.

What are other names used for GIFT NIFTY?

Some of the common names / alias used for GIFT Nifty are Gujarat International Finance Tec-City, Gift Nifty Live, Gift Nifty Futures, Gift Nifty Futures Live, Gift Nifty Index, Gift Nifty Chart, Gift Nifty Future, Gift Nifty Live Price, Gift Nifty Live Chart.

How Gift NIFTY, Gift Nifty Futures Live, Impact on Share Market ?

• As per experts, the shift will boost GIFT City to become a true international. The change will swiftly speed up GIFT City’s transition into a truly global city. Currently, each sale transaction is liable for a tax deduction at source, and the attestation of documentation issued by embassies is required in order to open an NRI account.
• This shift will help GIFT City establish itself as a leading global financial services hub by significantly increasing trading volumes and liquidity. This would attract more market intermediaries, traders, and investors.
• India’s integration with the global financial sector and its increasing international recognition would both be improved by the SGX Nifty’s relocation to GIFT City, India.
• Investors will profit from the SGX Nifty shift because the NSE IX operates out of a Special Economic Zone (SEZ), which allows them to allowances from capital gains waiver, dividend payment tax, commodity transaction tax, and securities transaction tax.

Difference between GIFT Nifty & SGX NIFTY

Factor	GIFT Nifty	SGX Nifty
Based On:	Gujarat International Finance Tec-City	Singapore Exchange SGX.
Trading Hours:	It follows the trading hours of the Indian stock market, with trading sessions in line with the NSE’s timings.	SGX Nifty trading occurs during the trading hours of the SGX, which are different from the Indian market hours. It provides opportunities for trading on the Nifty 50 index even when the Indian markets are closed.
Location and Exchange:	GIFT Nifty is traded on the Gujarat International Finance Tec-City (GIFT City) International Financial Services Centre (IFSC) exchange in India. It is an onshore derivative product.	SGX Nifty is traded on the Singapore Exchange (SGX) in Singapore. It is an offshore derivative product.
Regulatory Oversight:	It falls under the regulatory jurisdiction of Indian financial authorities and is subject to Indian financial regulations and taxation.	As an offshore derivative, SGX Nifty is subject to the regulatory framework of Singapore and is not directly regulated by Indian authorities. Tax implications may also differ.
Liquidity and Participation:	GIFT Nifty typically sees higher participation from domestic investors and traders.	SGX Nifty attracts a mix of international and Indian investors, making it a more globally accessible product.

Urban Company erstwhile Urban Clap

Urban Company, the Hyperlocal services unicorn has a presence in top 10 metros and 40 Tier 2 cities, by-and-large it has "been in a metro phenomenon so far".

On the international front, the UAE market is doing quite well for the company.

"On the back of the success of UAE, we are at the cusp of announcing a JV in Saudi Arabia...which should happen hopefully in the next three months...and Singapore, which is also a very important and strategic market for us...we have been there for the last three years, and that market also is doing well," Abhiraj Bhal, co-founder of Urban Company

Bhal said Urban Company, the marketplace for home services, would like to go for an IPO "at the right time", and while internal preparations have started, there are no firm timelines for hitting the public markets.

"We would definitely like to go public at the right time. Internal preparations have started, but I can't put a firm timeline...I think we are still some distance away, but we would like to be ready," Bhal said.

The company in October launched its range of fully 'Made in India' smart RO water purifiers - marking its foray into the branded water purifiers space.

Core Sector in India - Core Sectors and their weightage in Index of Industrial Production(IIP)

What are the core sectors of India?

The Core Sector of India includes Coal, Crude Oil, Natural Gas, Refinery Products, Fertilizers, Steel, Cement, and Electricity. It comprises 40.27 percent of the weight of items included in the Index of Industrial Production (IIP). The Core sectors of an economy are the primary or important industries.

The Office of the Economic Adviser (OEA), Department of Industrial Policy and Promotion (DIPP), and Ministry of Commerce and Industry compile and publish the index.

The Index of Key Industries evaluates the performance of the eight core industries of coal, crude oil, natural gas, refinery products, fertilisers, steel, cement, and power in aggregate and individual production terms. These industries serve as the foundation for all other industries. The current year’s production of these industries is computed using the 2011-2012 base year.

• Core industries include eight sectors of the Indian economy that are mentioned below:

Sector	Description	Weightage
Coal	Coal production, excluding Coking coal.	10.33 %
Electricity	generation of thermal, nuclear, hydro	19.85 %
Crude Oil	Total crude oil production.	8.98 %
Cement	Production in large plants and mini plants.	5.37 %
Natural Gas	Total production of natural gas.	6.88 %
Steel	Production of alloy and non-alloy steel only.	17.92 %
Refinery Products	Total refinery production.	28.04 %
Fertilizer	Urea, ammonium sulfate, calcium ammonium nitrate, complex grade fertilizer, and single superphosphate, among others.	2.63 %