Below is the prediction for today for GIFT Nifty. You can clearly see from the following table that the GIFT Nifty index is likely to go down.
| Today High | Today Low | Today Open | Previous Close |
|---|---|---|---|
| 23,314 | 23,130 | 23,165 | 23,113 |
GIFT Nifty Prediction for Tomorrow
Check out the expected performance of the GIFT Nifty (23,457) Index tomorrow. This would help you plan your investments accordingly.
| Bank Nifty Type | Levels |
|---|---|
| GIFT Nifty Support | ₹ 23,342 – ₹ 23,227 – ₹ 23,112 |
| GIFT Nifty Resistance | ₹ 23,572 – ₹ 23,687 – ₹ 23,802 |
| GIFT Nifty Range | ₹ 23,207 – ₹ 23,707 |
| Bias | Bullish |
What is GIFT Nifty?
During off-market hours, traders follow the GIFT Nifty (previously SGX Nifty). The Nifty 50 index’s market opening price for the upcoming trading session is shown by the Gift Nifty live price. The primary index of the Indian stock market, NSE India, is the Nifty 50.
Global cues, macroeconomic data (issued after market hours), significant geopolitical events, and large-cap company results announced after market hours all influence the price fluctuations of the Gift Nifty index. However, this is by no means an exhaustive list of occurrences.
Investor moods may shift as a result of such occurrences, and they would choose to hedge their current positions during post-market hours. Gift Nifty gives people this choice so they may accomplish it.
For the GIFT City-based IFSC, Gift Nifty Live marks a significant turning point. It improves the nation’s capital market ecology and boosts confidence among foreign investors. The NSE International Exchange trades the Gift Nifty, which is the NSE’s IFSC-SGX Connect Nifty Index, at IFSC, Gift City, Gujarat, India.
With effect from July 3rd, 2023, all open positions in SGX have been transferred to NSE International Exchange ISFC Limited (NSE IX), rebranding the SGX Nifty as Gift Nifty. NSE IX is a GIFT City-based NSE subsidiary. The Indian rupee is the only currency in which stock exchanges operating in GIFT City are allowed to offer to trade securities.
Nifty futures contracts priced in US dollars will now trade on the NSE. Nifty futures contracts priced in US dollars will now trade on NSE IX rather than the Singapore Exchange (SGX). The International Financial Services Center Authority’s (IFSCA) regulatory framework governs NSE IX.
GIFT Nifty Live Futures
Due to its ability to enable overseas investors to participate in the Indian market, the SGX Nifty was a highly popular derivative product of the Singapore Exchange. It is currently traded on the NSE IX Exchange in IFSC after being changed to GIFT Nifty.
Our SGX Nifty futures live updates were used by traders to navigate the international markets. To remain ahead of the financial curve, use our extensive Gift Nifty live stream to monitor market developments, examine price swings, and make informed judgments.
The underlying NSE Nifty index’s futures and derivatives product is called Gift Nifty. It makes it possible for FIIs and other people to invest in Nifty Futures.
On July 3, 2023, the Singapore Stock Exchange (SGX) terminated the SGX Nifty with the introduction of the GIFT Nifty. The Gujarat International Finance-Tec (GIFT) City platform, also known as the NSE-IFSC, is where the GIFT Nifty index is traded. All Nifty futures contracts denominated in US dollars will be traded only on the NSE IFSC as GIFT Nifty after the switch.
Difference Between SGX Nifty and GIFT Nifty
Within GIFT City, NSE International Exchange IFSC Limited, commonly referred to as NSE IX, functions as an NSE subsidiary. Because of their advantageous location, GIFT City’s stock markets are able to trade securities in currencies other than the Indian rupee. NSE IX has been enabling dollar-denominated trading across a range of financial products since its launch in 2017.
An important development is the switch from SGX Nifty to GIFT Nifty. All foreign customer orders have been transferred to NSE IX for trading and execution by the Singapore Stock Exchange, with assistance from SGX IFSC India Connect, a dedicated subsidiary. The NSE IFSC Clearing Corporation oversees the clearing and settlement procedures, and the key counterparty is SGX Group’s Derivatives Clearing.
FAQs – GIFT Nifty Today Prediction
What are the timings of GIFT Nifty?
There are 21-hour trading days between two sessions for the new GIFT Nifty F&O futures. From 6:30 am Indian Standard Time (IST) to 3:40 pm IST, the first session would last nine hours. A second 12-hour session will start at 4:35 pm IST and last until 2:45 am IST the following day, with a 55-minute break.
How the trading of GIFT Nifty would be done?
In accordance with the agreement, SGX established “SGX India Connect IFSC Private Limited” in GIFT City, which will function as both a clearing member of NSE IFSC Clearing Corporation Ltd (NICCL) and a trading member of NSE IFSC.
SGX’s trading members will initially forward the contracts to NSE IFSC for trade matching on behalf of overseas investors. They will thereafter be cleared on Singapore Exchange Derivatives Clearing (SGX-DC) and NICCL.
What does GIFT Connect mean?
On the NSE IFSC, GIFT Connect provides dollar-denominated GIFT Nifty and other Nifty contracts. In addition to GIFT Nifty, derivatives contracts are offered for GIFT Nifty Bank, GIFT Nifty Financial Services, and GIFT Nifty IT. Other indices will be added over time.