GIFT Nifty contracts: GIFT Nifty 50, GIFT Nifty Bank, GIFT Nifty Financial Services and GIFT Nifty IT futures, plus GIFT Nifty 50 options. The GIFT Nifty 50 futures contract is worth US$2 × the index level, moves in ticks of 0.5 points (US$1 per tick) and is cash settled in US dollars.
The four GIFT Nifty contracts
| Contract | Underlying | What it reflects |
|---|---|---|
| GIFT Nifty 50 | Nifty 50 | The whole market. This is the contract quoted as "GIFT Nifty" in news. |
| GIFT Nifty Bank | Nifty Bank | Large private and public sector banks |
| GIFT Nifty Financial Services | Nifty Financial Services | Banks plus NBFCs, insurers and other financial companies |
| GIFT Nifty IT | Nifty IT | Indian IT services companies, sensitive to US tech and the dollar |
GIFT Nifty 50 carries most of the volume. The sector contracts trade far less, so their overnight prices are a weaker signal than GIFT Nifty 50.
GIFT Nifty 50 futures: contract specifications
- Underlying
- Nifty 50 index
- Contract value
- US$2 × Nifty 50 level
- Tick size
- 0.5 index points
- Tick value
- US$1 per contract
- Settlement
- Cash, in US dollars
- Expiry
- Tuesday-based monthly cycle
These details are taken from broker contract summaries. Multipliers, ticks and expiry rules are set by NSE IX circulars and can change, so check the NSE IX contract specification page before trading.
GIFT Nifty lot size and contract value
Domestic Nifty futures are defined by a number of units: 65 units per lot for contracts expiring from January 2026. GIFT Nifty works differently. Its "lot" is a dollar amount per index point.
Contract value = US$2 × index level. With GIFT Nifty at 24,000, one contract is worth about US$48,000. A one-point move changes the value by US$2, and one tick (0.5 points) by US$1.
Many websites quote "lot size 50" for GIFT Nifty. That number comes from the old domestic Nifty lot and does not describe the dollar contract.
| GIFT Nifty 50 futures | Nifty 50 futures (NSE) | |
|---|---|---|
| Lot defined as | US$2 per index point | 65 units (from January 2026) |
| Currency | US dollar | Indian rupee |
| Price step | 0.5 points | As set by NSE by index level |
| Regulator | IFSCA | SEBI |
| Who can trade | NRIs, FPIs, IFSC institutions | Resident Indians and others via SEBI brokers |
GIFT Nifty options
NSE IX also lists European-style options on GIFT Nifty 50 for eligible participants. They are cash settled in dollars like the futures. For readers in India they matter mostly as context: domestic Nifty options on NSE remain the instrument resident traders can use.
Using the sector contracts as signals
- GIFT Nifty Bank can hint at how banking stocks will open, but its overnight trading is thin. Bank Nifty on NSE often follows GIFT Nifty 50 more than GIFT Nifty Bank.
- GIFT Nifty IT tends to react to US technology stocks and the rupee-dollar rate overnight.
- When the sector contract barely trades, rely on GIFT Nifty 50 and sector news instead.
Frequently asked questions
What is the lot size of GIFT Nifty?
GIFT Nifty 50 futures are defined as US$2 multiplied by the index level, not as a number of units. Check the NSE IX contract specification for the current multiplier.
What is the tick size of GIFT Nifty?
0.5 index points, worth US$1 per contract on GIFT Nifty 50 futures, according to broker contract summaries.
Is there a GIFT Nifty Bank?
Yes. GIFT Nifty Bank futures track the Nifty Bank index and trade on NSE IX alongside GIFT Nifty 50, Financial Services and IT.
When does GIFT Nifty expire?
GIFT Nifty futures follow a monthly expiry cycle set by NSE IX, currently Tuesday-based. Confirm the exact date for each contract on the NSE IX website.