Gift Nifty logs highest-ever turnover of $12.4 billion on July 25

Gift Nifty, which was being traded at the Singapore Exchange (SGX), has been transitioned to GIFT City in Gujarat

GIFT Nifty, formerly known as SGX Nifty, logged its highest ever turnover of $12.4 billion (Rs 1 trillion) on Wednesday. Number of contracts traded also reached a record at 314,000. “Open positions in terms of number of contracts and value exceeded by 32 per cent and 35 per cent, respectively, compared to the first day of full-scale operations,” the exchange said in a release.

GIFT Nifty, which was being traded at the Singapore Exchange (SGX), has been transitioned to India's maiden International Financial Services Centre — GIFT City in Gujarat through a connect programme between NSE and SGX from July 3.       

Suraj Estate Developers refiles papers for IPO 

Real estate player Suraj Estate Developers has filed fresh preliminary papers with the Securities and Exchange Board of India (Sebi)  to raise ~400 crore through an initial public offering (IPO). Before this, the Mumbai-based realty film filed its draft IPO papers in March 2022. The IPO is entirely a fresh issue of equity shares worth up to Rs 400 crore with no offer for sale component, according to the fresh draft red herring prospectus (DRHP) filed on Monday. pti