Gift Nifty

The GIFT Nifty is an offshore futures contract traded in US dollars. It is based on India’s benchmark Nifty 50 index and is traded on the NSE International Exchange (NSE IX) located in Gujarat International Finance Tec-City (GIFT City) in India. Operating almost throughout the day, the GIFT Nifty index is primarily used by Indian Traders to gauge early market signals and understand market sentiment.

GIFT stands for Gujarat International Finance Tec-City, the international financial services centre in Gandhinagar where NSE IX operates.

Get latest update on GIFT Nifty movement by scrolling above.

GIFT Nifty shows what direction Nifty 50 is likely to open in and what sentiment we have in the Indian stock market before trading commences at 9:15 AM IST.

GIFT Nifty futures are contracts that let participants take a position on the future level of the Nifty. They are cash-settled in US dollars and trade on NSE IX. The price of a futures contract reflects expectations for the index, adjusted for factors like interest rates and dividends until expiry.

The GIFT Nifty is traded for almost 21 hours every weekday on the NSE International Exchange (NSE IX), located at GIFT City. The trading is done in two sessions with a brief break and overnight maintenance period.

GIFT Nifty Trading Sessions (IST)

Session 1

Starts at 6:30 AM to 3:40 PM Asian market open and Indian equity hours

Break

Between 3:40 PM and 4:35 PM Settlement

Session 2

Between 4:35 PM to 2:45 AM European and US market hours

Overnight Maintenance

Between 2:45 AM to 6:30 AM Daily Settlement & System Maintenance.

GIFT Nifty is important because it offers domestic traders with early signals hinting on how the domestic index – Nifty50 will open – either gap up, gap down, or on a flat note.

Common reasons include:  

• Overnight moves in US markets (Dow Jones, Nasdaq, S&P 500) and Asian indices 

• Crude oil prices and US bond yields 

• Rupee–dollar movement 

• Foreign institutional investor (FII) buying or selling 

• Economic data, central bank decisions and corporate results 

• Geopolitical news

The GIFT Nifty is mostly used by Foreign Investors, Institutions and eligible participants. The regulations for resident retail investors and NRIs are controlled by regulatory bodies like RBI and IFSCA. These regulations may vary from time to time. You should consult with your broker to know the latest norms applicable. Most Indian retail investors use GIFT Nifty as an indicator of the markets and trade in future/option contracts on Nifty on NSE.

You can check the live price and chart for GIFT NIFTY on Gift Nifty Page. Alternatively, you can also access the data on the NSE IX website.

GIFT Nifty is not calculated like a spot index. Futures price is determined by the market participants. Fair future price can be calculated using the formula – Nifty Spot Price(1+ Interest RateDays To Expiry/365) – Expected Dividends. However, the actual price at which it will trade depends upon demand, supply and sentiment.

Yes. Since Nifty contracts are settled in USD, a depreciation in the rupee will reduce the USD value of Nifty for foreign investors, while appreciation would increase it. Currency movements affect flows from foreign investors into Indian equities and therefore the index.

SGX Nifty traded on the Singapore Exchange, while GIFT Nifty trades on NSE IX in GIFT City, India. GIFT Nifty replaced SGX Nifty, with liquidity moving to the Indian venue, and it trades for longer hours.

No. The Nifty 50 is the spot index of 50 large Indian companies, calculated by NSE Indices. GIFT Nifty is a derivative contract based on that index. It trades at different times and its price can sit above or below the spot Nifty.

GIFT Nifty tracks the broad Nifty 50. NSE IX also lists contracts linked to sector indices such as Nifty Bank, Nifty Financial Services and Nifty IT. These let participants take a view on a single sector rather than the whole market.

No. GIFT Nifty could be a useful guide but it can sometimes be different due to news breaking after the GIFT Nifty closing, different levels of liquidity, or a change in sentiment at the open. Investors and Traders should treat Gift Nifty as one input, not a standalone signal.

GIFT Nifty futures are cash-settled in US dollars on expiry. Contract size, expiry dates and margin rules are set by NSE IX, so check its latest contract specifications before trading.

Before the market opens compare the GIFT Nifty data with the Nifty’s previous closing, as this will help you get a sense of the gap. Then look at the global cues, support/resistance levels, and any major news. This will help you to size your positions. Don’t make large trades based solely on the pre-open movements.