GIFT Nifty goes into overdrive, hits all-time high in volume and open interest
The exchange also recorded an all-time high open interest of 452,433 contracts, with a turnover of $20.93 billion.
Trading turnover on NSE IX has grown since the commencement of full-scale operations of GIFT Nifty on July 3, 2023. Since then, GIFT Nifty has recorded cumulative volume of more than 75.68 million contracts, with total cumulative turnover of $3.50 trillion through September 24, 2026.
NSE IX said the latest milestone adds to the growth of GIFT Nifty, which it described as a new benchmark to the growth story of the Indian equity market.
NSE IX is an international multi-asset exchange set up at GIFT City on June 5, 2017, and recognised by the International Financial Services Centres Authority (IFSCA).
The exchange offers products including Indian single-stock derivatives, index derivatives, currency derivatives, depository receipts and global stocks. It also offers primary-market products such as equity shares, special purpose acquisition companies (SPACs), REITs, InvITs, depository receipts, debt securities and ESG debt securities under the regulatory framework of the IFSCA (Issuance and Listing of Securities) Regulations, 2021.
NSE IX and GIFT Nifty have received Part 30 exemption from the US Commodity Futures Trading Commission (CFTC) under Regulation 30.10 and SEC class relief under Sections 5, 6, 15 or 17A of the Securities Exchange Act of 1934, enabling US customers to participate in derivative contracts listed on NSE IX.
Broader markets snapshot
Indian equities remained under pressure this week, with the Nifty 50 extending its losing streak to seven weeks, its longest in six years, as elevated crude prices, rising US Treasury yields, geopolitical uncertainty and accelerating foreign institutional investor (FII) outflows weighed on market sentiment.
The Nifty fell around 0.88% during the week despite a late rebound as oil prices eased and value buying emerged.
Foreign investors remained a key drag on the market, pulling out around ₹18,531 crore from Indian equities in September through September 25. Domestic institutional investors, meanwhile, bought around ₹52,617 crore during the period.
Crude oil prices, global bond yields, geopolitical developments and FII flows are among the factors expected to remain in focus for Indian equities next week. US economic data and Federal Reserve commentary will also be watched for cues on interest rates and global liquidity, while domestic industrial data is expected to provide a reading on the strength of India’s growth momentum.
Disclosure: This article has been written by Kumar Gaurav, who is not a Sebi-registered Research Analyst or an Investment Adviser. Gaurav and their ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective Sebi-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here
