What Is GIFT Nifty?
GIFT NIFTY (formerly known as SGX Nifty) is a International traded futures contract based on the Nifty 50 index. It is traded on the NSE IFSC exchange in Gujarat International Finance Tec-City, commonly called GIFT City — India's first operational International Financial Services Centre (IFSC).
GIFT Nifty vs SGX Nifty
SGX Nifty officially started trading on the Singapore Exchange (SGX) in September 2000 mainly to enable Foreign Institutional Investors (FIIs) and non-resident individuals (NRIs) to trade NIFTY derivatives outside of India. SGX Nifty was discontinued on July 3, 2023, and replaced by GIFT Nifty after a strategic collaboration between NSE and Singapore Exchange. The contract specifications stays nearly identical, price behavior and trade timings also remains the same.
Trading Hours for GIFT Nifty
GIFT Nifty trades in two sessions: Session I from 6:30 AM to 3:40 PM IST, and Session II from 4:35 PM to 2:45 AM IST, covering roughly 21 hours each trading day.
| Time (IST) | What Happens | Key Influence |
|---|---|---|
| 6:30 AM – 9:15 AM | Pre-market (Session I) | Asian markets, overnight US markets close |
| 9:15 AM – 3:40 PM | Overlaps with Indian market hours | Domestic news, FII/DII flows |
| 3:40 PM – 4:35 PM | Break between sessions | No trading on Gift Nifty |
| 4:35 PM – 2:45 AM | Session II — US market overlap | Dow Jones, S&P 500, Nasdaq, Crude oil price movements |
Impact on Nifty 50 Opening
GIFT Nifty has become the primary reference for pre-market indicator for the Nifty 50 Index. Because GIFT Nifty starts trading at 6.30 AM, it provides traders the sentiment for the NSE's 9.15 AM opening.
- Overnight Global Cues: Gift Nifty captures volatility from US market closings and Asian market openings, allowing Indian traders to know the sentiments to gauge global reaction to events before Indian stock markets open.
- Price Discovery: Gift Nifty serves as a tool for discovering where "smart money" is moving, particularly reacting to overnight news like Fed announcements, Oil Price movements or geopolitical shifts.
- Predictive Gap Analysis: Almost 80–90% of the time Gift Nifty accurately predicts whether Nifty 50 will open higher or lower. If GIFT Nifty is trading 100 points higher than the previous day's NSE close, the domestic market typically sees a "Gap Up" opening.
Turnover in GIFT Nifty
GIFT NIFTY achieved a record high monthly turnover of USD$129.80 billion in March 2026 with a total volume of 2.82 million contracts.
Can Retail Investors Trade GIFT Nifty?
Indian retail investors cannot trade GIFT Nifty directly. It is designed for Foreign Portfolio Investors (FPIs), Non-Resident Indians (NRIs), and Eligible Foreign Investors (EFIs). Indian retail investors and traders often use the NSE (National Stock Exchange) exchange in India for trading Nifty futures contract. For Indian retail traders, GIFT Nifty is purely a reference tool — the directional signal it provides each morning is free and available right at the top of this page.