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April 06, 2021
SGX’s offshore office inauguration scheduled for April-end The Singapore Stock Exchange (SGX) is all set to start its offshore office in India at the International Financial Services Centre (IFSC) at GIFT City in Gandhinagar, thereby paving the way for trading of globally popular products such as SGX Nifty Futures on Indian soil through the IFSC platform. This brings an end to nearly two years of wait since August 2019 when the announcement was made that Singapore Exchange-National Stock Exchange (SGX-NSE) Connect will be set up at GIFT-IFSC.
On Monday, a high-level delegation led by Singapore’s High Commissioner, Simon Wong, met Gujarat Chief Minister Vijay Rupani in Gandhinagar to invite him for the inauguration of SGX’s offshore office by April end, an official statement informed here.
India recorded the highest ever FII inflows of $37.6 billion in financial year 2021, greater than the cumulative inflows of the last six years. As per a report by Motilal Oswal Financial Services, DIIs recorded the first outflows of $18.4 billion after five years of inflows. The Nifty ended FY21 with a stellar 71 per cent returns. The returns look stellar due to the low base of FY20 when markets fell 26 per cent. The market delivered positive returns in all four quarters of FY21. As per the report, FII flows in equities in FY21 were the highest ever at $37.6 billion, while DII equity flows saw outflows after five consecutive years of inflows.
Investment by FIIs in Indian equities hits 2-decade peak forextv.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forextv.com Daily Mail and Mail on Sunday newspapers.