Sensex, Nifty hit fresh all-time highs; GIFT Nifty replaces SGX Nifty from today

The Nifty and Sensex saw a gap up opening on Monday, continuing to make new all-time highs.

Nifty crossed the 19,300 mark to a new all time high in early trade on Monday. The Sensex, meanwhile, traded higher over 65,000 during the opening hours and later crossed 65,100. Additionally, Bank Nifty surpassed the 45,000 threshold and reached a new high.

These impressive gains are a reflection of investors' increased optimism as inflationary pressures in the US seem to be receding. This development has spurred a surge in equities market confidence, driving Indian shares to all-time highs.

Gift Nifty which replaces SGX Nifty from today

SGX Nifty, the early indicator of the domestic benchmarks, shifted base from Singapore Exchange to NSE International Exchange in Gandhinagar Gujarat. All SGX Nifty positions have been converted to GIFT Nifty positions.

The beginning of the operation of GIFT NIFTY is a significant step in the shifting of the base Singapore Exchange to the NSE International Exchange (NSE IX) in Gandhinagar, Gujarat.

“The NSE International Exchange (NSE IX) is rebranding the SGX-Nifty product as the GIFT-Nifty. The reason for this rebranding is that from June 30, the entire trading of SGX-Nifty will cease at SGX and the entire volume will shift to GIFT IFSC from July 3,” said Injeti Srinivas, Chairman, International Financial Services Center Authority (IFSCA), the unified regulator at GIFT IFSC at Gandhinagar.