GIFT Nifty crosses $100 billion in all-time high monthly turnover

Mumbai, Sep 2 (SocialNews.XYZ) GIFT Nifty recorded all-time high monthly turnover of $100.13 billion in August, setting a new benchmark to the growth story of Indian equity market.

The feat surpasses its previous record of $97.8 billion set in June. “This milestone reflects the growing global interest and trust in the GIFT Nifty as a benchmark for the India’s growth story,” said the National Stock Exchange (NSE).

“We are glad to witness the success of GIFT Nifty and express our sincere gratitude to all the participants for their overwhelming support and making GIFT Nifty a successful contract,” the exchange added.

Trading turnover on NSE IX has been growing exponentially since commencement of a full-scale operation of GIFT Nifty on July 3, 2023.

Since the first day of full-scale operations, GIFT Nifty witnessed a total cumulative volume of over 25.13 million contracts, with total cumulative turnover of $1.08 trillion till August 30.

On August 27, GIFT Nifty set an all-time high open interest of $18.29 billion, surpassing its previous Open Interest record of $18.22 billion on June 26 this year.

NSE IX offers a diversified portfolio of products including Indian single stock derivatives, index derivatives, currency derivatives, depository receipts and global stocks.

GIFT Nifty, which is traded on the National Stock Exchange (NSE), recorded a new milestone of achieving an all-time high monthly turnover of $95.55 billion (about Rs 7,97,714 crore) in June.

There are about 10 crore registered investors on the NSE and out of that, around 22 per cent are female investors. Since 2015, the number of female investors in the Indian stock market has increased by 6.8 times. About 69 per cent of investors are below the age of 40 years.

The registered investor base hit the one crore mark 14 years after commencement of operations.

Source: IANS