GIFT Nifty Surpasses Record with ₹7.34 Lakh Cr Turnover in May

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Synopsis:

GIFT Nifty, based on the Nifty 50 Index, achieved a record monthly turnover of ₹7.34 Lakh Crore in May 2024, with 19,82,661 contracts traded. It also registered the largest open interest of 3,92,577 contracts on May 28, 2024.

GIFT Nifty News Today

GIFT Nifty, previously known as SGX NIFTY, reached an unprecedented milestone in May 2024 with a staggering monthly turnover of ₹7.34 lakh crore (US $88.10 billion). This achievement marks the highest monthly turnover ever recorded for the GIFT Nifty surpassing the previous record set in April 2024.

Additional Read: Gift Nifty and Intraday View

Record-Setting Open Interest

On May 28, 2024, GIFT Nifty also established a new record for open interest, reaching 3,92,577 contracts valued at ₹1.48 lakh crore (US $17.81 billion). This surpasses the previous record set just a day earlier, indicating sustained market interest and confidence in the product.

Additional Read: Share Market Today | Gift Nifty Flat, US Indices in Mix

Exponential Growth Since Full-Scale Operations

Since commencing full-scale operations on July 3, 2023, GIFT Nifty has experienced exponential growth. The cumulative volume has exceeded 18.84 million contracts, with a total cumulative turnover reaching an impressive ₹65.16 lakh crore (US $782.08 billion) by the end of the first session on May 30, 2024.

Additional Read:  

This growth underscores the increasing global interest in India's economic prospects and the trust investors place in GIFT Nifty as a reliable benchmark for market performance. As investors continue to flock to Indian markets, GIFT Nifty stands poised to play a crucial role in shaping the future of India's financial landscape.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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