HomeTop StoriesGIFT Nifty sets all-time high open interest worth $18.29 billion

GIFT Nifty sets all-time high open interest worth $18.29 billion

Mumbai, Aug 29 (IANS) In a new benchmark for the growth story of Indian equity market, GIFT Nifty set an all-time high open interest of $18.29 billion on August 27, surpassing its previous Open Interest record of $18.22 billion on June 26 this year, the National Stock Exchange (NSE) said on Thursday.

It set a record Open Interest of 364,710 contracts worth $18.29 billion on August 27. The continuous increase in open interest highlights the broader participation and reflects the trust of the global investors in GIFT Nifty, said the exchange.

The milestone reflects the growing global interest and trust in the GIFT Nifty as a benchmark for India’s growth story.

Trading turnover on NSE IX, an International multi assets exchange set up at GIFT City, 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 has witnessed a total cumulative volume of over 24.71 million contracts with total cumulative turnover of $1.05 trillion till August 27, 2024.

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. This surpassed its previous record of $91.73 billion set in May. The benchmark achieved its highest-ever monthly turnover of 21,23,014 contracts in June.

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

–IANS

na/

Go to Source

Disclaimer

The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.

In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.

Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.

Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.

For any legal details or query please visit original source link given with news or click on Go to Source.

Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.

If you are not willing to accept this disclaimer then we recommend reading news post in its original language.

RELATED ARTICLES
- Advertisment -

Most Popular