India’s stock market has overtaken Hong Kong’s for the first time to rank as the fourth-biggest equity market globally by market capitalization. India’s market cap stood at $4.33 trillion on Tuesday as compared to $4.29 trillion for Hong Kong, reported Bloomberg.
Currently, the US is the world’s biggest stock market with mcap of $50.86 trillion followed by China with a mcap of $8.44 trillion and Japan at $6.36 trillion.
India’s stock market capitalization crossed $4 trillion for the first time on 5 December, with around half of that coming in the past four years, according to Bloomberg. The growth in the Indian stock market came on the back of a growing retail investor base, persistent inflows from foreign institutional investors (FII), strong corporate earnings, and solid domestic macroeconomic fundamentals. The Indian markets have settled with gains for eight consecutive years and are poised for further growth.
On the other…
