SGX Nifty futures contracts have been rebranded as Gift Nifty as the $7.5bn derivative trade shifts to the NSE International Exchange in Gujarat's Gandhinagar. The move comes amid tensions between India and Singapore following an Indian Supreme Court order in February that prevented the Indian Commodity Exchange from sharing its indices abroad. The SGX had offered a suite of Indian equity derivatives trading products based on NSE indices previously. SGX Nifty has been a reliable early indicator for many years, offering traders a glimpse into how Nifty is expected to open each day.
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