New Delhi, April 2 : GIFT Nifty recorded its highest-ever monthly turnover of $129.80 billion in the month of March, surpassing its previous record of $106.22 billion set in October 2025, according to NSE International Exchange (IX) on Thursday.

The exchange also said that monthly trading volume hit an all-time high of 2.82 million contracts in March, eclipsing the earlier peak of 2.17 million contracts set in April 2025.

The March milestone is the latest in a series of records for the India-linked derivatives contract.

Earlier in February, GIFT Nifty had logged its highest-ever single-day trading volume of 4,57,989 contracts, with a single-day turnover of $23.48 billion -- surpassing the previous single-day record of $22.88 billion set on January 23, 2024.

The October 2025 monthly record of $106.22 billion had itself eclipsed the earlier high of $102.35 billion reached in May 2025, underscoring the steady acceleration in trading activity over the past year.

Since the launch of full-scale operations on July 3, 2023, the contract has clocked a cumulative trading volume of over 63.37 million contracts with a total turnover of $2.92 trillion through March 2026.

By comparison, cumulative volume stood at 60.05 million contracts with a turnover of $2.76 trillion as of February 2026, indicating a sharp acceleration in the final month of the fiscal year.

NSEIX -- which holds a market share of over 99.7 per cent among international exchanges at GIFT City -- was set up on June 5, 2017 and recognised by the International Financial Services Centre Authority.

The exchange offers a diversified product portfolio including Indian single stock derivatives, index derivatives, currency derivatives, and depository receipts, as well as primary market products such as equity shares, REITs, InvITs, and ESG debt securities under the IFSCA Listing Regulations, 2024.

GIFT Nifty futures -- also known as an early indicator of the Nifty index -- were trading at 22,706 during intra-day, down 144.5 points or 0.63 per cent.

Notably, previously the indicator was called as SGX Nifty when it was traded on the Singapore Exchange.

/IANS