SGX NIFTY stands for Singapore Stock Exchange Nifty. SGX Nifty is a derivative of India’s Nifty and is traded on Singapore’s Stock Exchange.
SGX Nifty actually has 3 tradable derivative components:
– SGX Nifty 50 Futures (Futures Derivative of India’s Nifty 50)
– SGX Nifty 50 Options (Options Derivative of India’s Nifty 50)
– SGX Bank Nifty Index Futures (Futures Derivative of India’s Nifty Bank)
Of these, only SGX Nifty 50 Futures is traded actively and has good liquidity. So the term ‘SGX Nifty’ is generally used for ‘SGX Nifty 50 Futures’.
Also, it is traded for more no. of hours during a day as compared to NSE’s Nifty 50 Futures. Due to these reasons, many Indian traders keep track of live SGX Nifty levels.
Being a derivative of Nifty, though SGX Nifty concurs with Nifty mostly, it is not the case all the time.
SGX NIFTY Timings
As per Singapore Time (GMT +8):
T Session: 08:45 am to 06:15 pm
T+1 Session: 06:30 pm to 05:15 am
As per Indian Standard Time (IST) (GMT + 5:30):
T Session: 06:15 am to 03:45 pm
T+1 Session: 04:00 pm to 02:45 am
SGX NIFTY Contract Size and Months
Contract Size
While India’s Nifty 50 Futures has a contract size of 75 units, SGX Nifty futures has a contract size based on dollar value.
[fusion_highlight color=”#120035″ text_color=”” rounded=”yes” class=”” id=””]1 SGX NIFTY 50 Futures Contract = SGX Nifty 50 Index Futures Price x US$2[/fusion_highlight]
This means if SGX Nifty Futures change from 10,503 to 10,506, then it would give a profit of US$6 (=(10,506-10,503) x $2)on a long contract position. This converts to Rs. 439.81 considering the current US-INR value of 73.3.
Whereas in India’s Nifty Futures, a similar change of 3 points would result in a profit of 3 x 75 = Rs. 225 on a long contract position.
Contract Months
Monthly: 2 nearest serial months
Quarterly: March, June, September and December