GIFT Nifty Hits Record Turnover and Open Interest

GIFT Nifty turnover and open interest growth on NSE IX has surged to record levels. The offshore derivatives contract recorded an all-time high open interest of 452,433 contracts and a daily turnover of $20.93 billion on September 24, 2026.

Cumulative trading activity has expanded significantly since the commencement of full-scale operations on July 3, 2023. Total volume has exceeded 75.68 million contracts, with cumulative turnover surpassing $3.50 trillion through September 24, 2026.

NSE IX enables global access to Indian derivatives

NSE International Exchange (NSE IX) operates from GIFT City under the regulation of the International Financial Services Centres Authority. Established on June 5, 2017, it offers a wide array of products for both Indian and global markets.

The exchange provides Indian single-stock derivatives, index derivatives, and currency derivatives. Its primary-market offerings include equity shares, special purpose acquisition companies, REITs, InvITs, depository receipts, debt securities, and ESG debt securities under IFSCA regulations.

Crucially, NSE IX and GIFT Nifty have secured key US regulatory exemptions. A Part 30 exemption from the Commodity Futures Trading Commission and SEC class relief under the Securities Exchange Act of 1934 enable US customers to participate in its listed derivative contracts.

NSE IX positions GIFT Nifty as a benchmark for India's equity growth

The exchange describes GIFT Nifty as more than a trading instrument. It is framed as a new benchmark reflecting the growth story of the Indian equity market, reinforcing its symbolic role in global finance.

Domestic Indian equities face sustained pressure

This offshore activity contrasts sharply with conditions in the domestic market. Indian equities remained under pressure, with the Nifty 50 index extending its losing streak to seven weeks. This marks its longest weekly decline in six years.

Elevated crude oil prices, rising US Treasury yields, and geopolitical uncertainty weighed on sentiment. Accelerating foreign institutional investor outflows added to the pressure. The Nifty fell around 0.88 percent during the week despite a late rebound as oil prices eased and value buying emerged.

Foreign investors pulled out approximately ₹18,531 crore from Indian equities in September through September 25. Market participants will monitor several factors for cues next week. Crude prices, global bond yields, geopolitical developments, and FII flows remain in focus. US economic data, Federal Reserve commentary, and domestic industrial data will also be watched for signals on interest rates, liquidity, and India's growth momentum.

Domestic institutions step in as FIIs retreat

While foreign investors retreated, domestic institutional investors provided substantial counterbalancing support. They bought approximately ₹52,617 crore in Indian equities during the period from September through September 25. Market participants will continue to monitor crude prices, global bond yields, geopolitical developments, FII flows, US economic data, and domestic industrial indicators for cues on Indian equities next week.