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Offshore Nifty returns home as trading in Gift City starts
Mint Mumbai
|July 03, 2023
After more than two decades, India has managed to bring home the offshore-traded Nifty from Singapore, with the erstwhile SGX Nifty, rechristened Gift Nifty, to be traded for the first time on Monday at 6:30am at Gift City in Gujarat.
This will see a spillover of better price discovery, with India assuming the role of price-setter, thanks to 62 domestic entities initially taking part in trading along with foreign investors, said V. Balasubramaniam, the managing director and chief executive of NSE International Exchange IFSC Ltd (NSE IX), a fully owned subsidiary of the National Stock Exchange (NSE) of India Ltd.
This story is from the July 03, 2023 edition of Mint Mumbai.
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