The term Nifty has become synonymous with trading. The Nifty 50 and Bank Nifty indices are most-tracked by traders and are barometers for market sentiment. Starting July 3, market participants will hear another term more often: Gift Nifty. Who is this new kid on the block? Let’s find out:
What is Gift Nifty?
Well, it is not a kid. It was already very popular in its earlier avatar: SGX Nifty. Nifty derivatives contracts traded on the Singapore Exchange (SGX) were referred to as SGX Nifty. Trading in these contracts will now take place on Gujarat International Finance Tec-City (GIFT City)