What is GIFT Nifty?
GIFT Nifty is a futures contract on the Nifty 50, India's benchmark index of 50 large companies. It trades on NSE International Exchange (NSE IX) in GIFT City, Gujarat, is priced in US dollars, and is open for about 20 hours a day.
That long trading day is what makes it useful. The Indian cash market opens only at 9:15 AM IST, but GIFT Nifty has been trading since 6:30 AM. By the open it has already reacted to the US close, the Asian morning, crude oil and the rupee, so its price is the market's best guess of where the Nifty 50 should start.
From SGX Nifty to GIFT Nifty
For about two decades this contract traded on the Singapore Exchange as SGX Nifty. On 3 July 2023 it moved to NSE IX in GIFT City and was renamed GIFT Nifty. Members of the Singapore exchange still reach it through an order-routing link between SGX and NSE IX, so the same overseas investors kept access while trading moved onshore.
If you're searching for the SGX Nifty live price, the GIFT Nifty quote at the top of this page is its direct replacement. More on what changed.
GIFT Nifty trading hours
| Session | Opens (IST) | Closes (IST) |
|---|---|---|
| GIFT Nifty session 1 | 6:30 AM | 3:40 PM |
| GIFT Nifty session 2 | 4:35 PM | 2:45 AM (next day) |
| NSE cash market, for comparison | 9:15 AM | 3:30 PM |
Monday to Friday, except NSE IX holidays. See the full timings and the 2026 holiday list.
How to read GIFT Nifty before 9:15 AM
- Use the percentage change, not the price. GIFT Nifty's change from its previous close is the signal.
- Apply it to the Nifty 50's last close. If the Nifty closed at 22,500 and GIFT Nifty is up 0.6%, the implied open is about 22,635, a gap-up of roughly 135 points. The panel at the top of this page does this calculation live.
- Check it close to 9:00 AM. A reading at 7:00 AM can change a lot once Asian markets open and overnight news is digested.
- Look at what is driving it. US futures, the Nikkei and Hang Seng, Brent crude and USD/INR usually explain the move. The daily pre-market report puts them in one place.
Why GIFT Nifty differs from the Nifty 50
GIFT Nifty is a futures contract and the Nifty 50 is a spot index. Futures normally trade a little above spot to reflect the cost of carrying the position until expiry, so GIFT Nifty usually sits some points above the Nifty 50 even when nothing has happened. The gap shrinks as the monthly expiry approaches. That is why comparing the two raw numbers misleads, and why the percentage change is the number to watch.
Who can trade GIFT Nifty?
GIFT Nifty is built for foreign investors, NRIs and institutions trading through NSE IX members. Resident Indian individuals generally can't trade it, but anyone can use its price as a pre-market indicator, which is what this site is for.