1492 terms

Glossary

Every term is defined twice: once the way a filing would put it, and once the way somebody would explain it to you across a table. The second one is usually the one that sticks.

Showing 2 terms

GIFT Nifty

Derivatives

Also called: SGX Nifty

A US dollar-settled futures contract on the Nifty 50, traded on NSE International Exchange at GIFT City, and formerly listed in Singapore as SGX Nifty.

In plain terms

The number every 8:30 am bulletin opens with. Compare it against its own level at 3:30 pm yesterday rather than against the Nifty cash close, and the basis cancels out — what remains is the genuine overnight change. It says nothing about any individual stock.

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Basis

Derivatives

The difference between the futures price and the spot price of the same underlying.

In plain terms

The reason a headline of “GIFT Nifty up 110 points” can describe a flat open. Before treating the gap between two prices as information, check they are the same instrument — the carry alone can be a hundred index points.

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