5 hours Ago By Moneycontrol
Gujarat Chief Minister Bhupendra Patel on February 3 launched the Sensex Futures & Options contracts on the India International Exchange (India Inx) at GIFT City, Gandhinagar. Earlier in January, Moneycontro l had exclusively reported that India INX, the subsidiary of BSE Limited, is set to launch Sensex contracts soon. The Sensex Futures & Options will now be available for investors worldwide.
They can now directly invest in them using US dollars. The futures contracts will replicate the BSE Sensex index. The minimum ticket size will be USD 1.
The last Tuesday of the contract month will be considered the final settlement day for the contract. Also read: Our LIVE blog on stock market updates After launching the contracts, Gujarat Chief Minister Bhupendra Patel said, "After Gift Nifty, the future option of Sensex has also started in Gift City..
.India is leading the way in the field of continuous financial innovation of INX and providing global investors with a robust platform to easily to the Indian market." He added, "The launch of the US-dollar based Sensex Futures & Options on India Inx is an important step.
With this, foreign investors will be able to invest directly in the Indian market without any complicated process of money conversion. As a result, the Indian financial markets will have the opportunity to connect more closely with the global investment system." Currently, NSE IX, the subsidiary of the National Stock Exchange offers contracts of GIFT Nifty replicates the Nifty 50 index.
India INX, which was launched in 2017, is the country's first international exchange set up at Gift City. (With inputs from ANI).
