Gift Nifty derivatives hits record single-day turnover of $8.5 billion

The National Stock Exchange (NSE) on Monday said that the recently transitioned Gift Nifty derivatives on the NSE International Exchange (NSE IX) hit a record single-day turnover of $8.5 billion with over 214,000 contracts traded.

“Traded contract volume and turnover value witnessed a significant growth of over 530 per cent and 600 per cent, respectively compared to the first day full-scale operations volume of 33,570 contracts with turnover of $1.21 billion,” the exchange said.

The erstwhile SGX Nifty contracts, which were being traded at the Singapore Exchange (SGX), have been transitioned to India's maiden International Financial Services Centre—GIFT City in Gujarat through a connect programme between NSE and SGX