GIFT Nifty Sets an All-Time High Monthly Turnover for Month of May 2024

New Record

GIFT Nifty, which stands as a new benchmark to the growth story of the Indian equity market, recorded a new milestone and has added yet another feather in its cap in terms of achieving All-Time High Monthly Turnover of USD 88.10 billion in May 2024 as on end of the first session on May 30, 2024. This remarkable feat surpasses its previous record of USD 82.04 billion set in April 2024. This marks a 7.39% increase from the previous record of USD 82.04 billion set in April 2024.

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

Trading turnover on NSE IX has been growing exponentially since the 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 18.84 million contracts with total cumulative turnover of US $782.08 billion till end of the first session on May 30, 2024

Record Highest Open Interest

May 2024 witnessed unprecedented market activity with the highest-ever monthly turnover of 19,82,661 contracts, valued at USD 88.10 billion. Additionally, on May 28, 2024, the marked recorded its highest open interest with 3,92,577 contracts worth USD 17.81 billion. These highlight the robust growth and dynamic trading environment.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions