Introduction
The Nifty 50 is the benchmark index of the 50 largest companies on India's National Stock Exchange (NSE). SGX Nifty was a futures contract on the Nifty 50 traded on the Singapore Exchange, and because it traded before the NSE opened, traders used it to gauge how the Indian market would open. In July 2023, SGX Nifty trading moved to NSE International Exchange in GIFT City, Gujarat, where the contract now trades as GIFT Nifty and plays the same early-indicator role. This article explains the difference between the index and the futures contract and how to track Nifty data in Excel with MarketXLS India. The sections below were written when the contract traded in Singapore, so read "SGX Nifty" as GIFT Nifty today.
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What is the difference between Nifty and SGX Nifty?
Nifty is an index representing the performance of the top 50 companies listed on the National Stock Exchange (NSE) of India. It serves as a benchmark for the Indian stock market. In contrast, SGX Nifty refers to the Nifty futures contracts traded on the Singapore Exchange (SGX). SGX Nifty allows international investors to trade in Indian market-based futures without having to be directly involved with India’s NSE. This trading happens before the NSE opens, providing a glimpse into how the Indian market might perform. Essentially, Nifty is the actual index, while SGX Nifty is a derivative instrument traded internationally.
How is SGX Nifty Live calculated?
SGX Nifty is calculated based on the Nifty 50, which is the benchmark stock index of India. The trading of SGX Nifty happens on the Singapore Exchange. Its value is influenced by the movement of Nifty 50 back in India. Global market conditions can impact SGX Nifty as well. It trades for a longer duration compared to Indian markets, providing a preliminary indication of market sentiment. Currency fluctuations also play a role in its calculation. Investors use it to gauge the opening trend of the Indian stock market. Thus, it’s an important tool for traders globally.
Who buys SGX Nifty?
SGX Nifty attracts a variety of investors, including institutional investors, hedge funds, and individual traders. These market participants use it as a tool for hedging and speculative trading. Foreign portfolio investors (FPIs) are among the key buyers, as they can use SGX Nifty to gauge and act upon the Indian market trends without directly entering Indian exchanges. Pension funds and asset management companies also invest in SGX Nifty to diversify their portfolios and manage risk. Additionally, day traders find it useful due to its extended trading hours and liquidity.
What is the first session of SGX Nifty?
The first session of SGX Nifty is a pre-market trading session. It helps traders predict the opening of the Indian stock market. SGX Nifty is traded on the Singapore Exchange. This session usually begins before the Indian market opens. It provides insights and trends for investors. The session is essential for global investors who track Indian markets. Additionally, it sets the tone for the trading day in India. Because of this, many traders closely monitor the SGX Nifty. They use the data to make informed decisions early. This helps in planning their overall trading strategy.
How do you track SGX Nifty Live in Excel with MarketXLS?
Steps to Track SGX Nifty Live in Excel with MarketXLS
1. **Install MarketXLS Add-In **: Ensure you have the MarketXLS add-in installed in your Excel.
2. Real-time Data Function: For live Indian market data, MarketXLS India streams prices through your Zerodha or Angel One account, for example =mxlsIN.ZerodhaLast("NIFTY:IN") for the Nifty 50. There is no documented MarketXLS symbol for SGX Nifty or GIFT Nifty; confirm availability and the exact symbol with support@marketxls.com before building the sheet.
3. Using the Streaming Function:
If MarketXLS support confirms a symbol, a general streaming function such as QM_Stream_Value can be used. The symbol below is a placeholder, not a verified ticker.
=QM_Stream_Value("last", "SGXNIFTY")
Formula documentation: QM_Stream_Value
This function streams the latest value for the specified symbol (“SGXNIFTY” in this case).
4. Historical Data Function:
For tracking historical data, you can use QM_GetHistory to fetch historical price data.
=QM_GetHistory("SGXNIFTY")
Formula documentation: QM_GetHistory
This function will return historical data for the specified symbol.
5. Additional Quotes Functions: Utilize functions like QuoteClose, QuoteHigh, QuoteLow, QuoteVolume to get specific historical details.
=QuoteClose("SGXNIFTY")=QuoteHigh("SGXNIFTY")=QuoteLow("SGXNIFTY")=QuoteVolume("SGXNIFTY")
6. Daily Updates: For daily updates, you can use the appropriate MarketXLS functions to track day-by-day changes.
7. ** Alerts and Conditional Formatting**: Create alerts and use Excel’s conditional formatting to visually track significant changes in SGX Nifty’s performance.
Example Usage
To set up a simple SGX Nifty tracker, you could form an Excel sheet with columns for Date, Open, High, Low, Close, and Volume. Populate these using MarketXLS functions:
| Date | Open | High | Low | Close | Volume |
|---|---|---|---|---|---|
=TODAY() | =QuoteOpen("SGXNIFTY") | =QuoteHigh("SGXNIFTY") | =QuoteLow("SGXNIFTY") | =QuoteClose("SGXNIFTY") | =QuoteVolume("SGXNIFTY") |
Remember to update your function syntax with the exact symbol that MarketXLS uses for SGX Nifty.
Notes
– Availability of specific indices may vary depending on your MarketXLS subscription plan and data bundle.
– Ensure your MarketXLS add-in and Excel are up-to-date for the best performance and access to all functions.
With a confirmed symbol, this setup lets you monitor the contract in Excel.
For related Nifty options research, use the workbook below. It shows Nifty call and put prices; it is not an SGX Nifty futures tracker. More templates are in MarketXLS templates.
Template: Nifty Call Put Option Price Live
Nifty Call Put Option Price Live
Summary
The Nifty 50 is India's index of its 50 largest NSE-listed companies. SGX Nifty was a Nifty 50 futures contract traded on the Singapore Exchange; since July 2023 it trades as GIFT Nifty on NSE International Exchange. SGX Nifty Live provides a preliminary market trend before India’s markets open. Institutional investors, hedge funds, and day traders use SGX Nifty for hedging and speculative trading. Track Nifty data in Excel with MarketXLS India's broker-linked functions, and confirm any GIFT Nifty symbol with support. Set alerts and use conditional formatting for visual tracking.
