India has reclaimed its position as the world’s 5th largest market after briefly losing the spot to France in January. This could be attributed to the positive performance of the Indian market in 2023.
The local equity market in India has been in a rally since March 28th because of the continued buying from foreign investors amid the improving macroeconomic conditions in the country.
Presently, India’s market capitalization stands at $3.31 trillion. It is now ranked fifth among the top 10 most valued countries. Since the beginning of this year, it has experienced an increase of almost $330 billion in market capitalization.
Countries that hold the top spot in the stock market valuation are:
The United States with a market cap of $44.54 trillion
China with a market cap of $10.26 trillion
Japan with a market cap of $5.68 trillion
Hong Kong with a market cap of $5.14 trillion
India with a market cap of $3.31 trillion
France with a market cap of $3.24 trillion
Much ahead of the Indian GDP hitting $4 trillion, the Indian equity market on Wednesday achieved the coveted milestone as the total market capitalization of all BSE-listed stocks hit an all-time high figure above the Rs 333 lakh crore mark.
As India’s GDP keeps inching higher, the market cap is also likely to match steps or even stay ahead. As and when the GDP doubles, the m-cap will also double assuming that the market cap to GDP ratio is 100%.
As India is moving up in the world's economic order, foreign broking firm CLSA expect India's searing GDP growth to propel it to the top three of the globe’s largest economies, from just $3.4 trillion today to larger than Japan’s by 2027, hitting $29 trillion by 2047 and $45 trillion by 2052.
Comments
Write Comment