India reclaims its 5th position in global stock market by overtaking France at valuation of $3.31 trillion

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Post a broad based rally in local equities, India has reclaimed its position as the world’s fifth-largest market. This comes after briefly losing the spot to France in January. This has been achieved due to various factors one of which includes the positive performance of the Indian stock market.

The improving macroeconomics of the countries prompted the foreign investors into pumping in the money, which kept the market on rally since March 28. The Sensex and the Nifty jumped nearly 10 per cent, while BSE MidCap and SmallCap climbed nearly 15 per cent. The BSE Bankex has climbed nearly 13 per cent. In the previous two months, nearly $6.3 billion was bought in by foreign investors in the local equities.

India’s market capitalisation now stands at $3.31 trillion. It is now ranked fifth among the top-10 most valued countries. Since the beginning of this year, the nation has witnessed a rise of almost $330 billion market capitalisation.

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The top spot is held by US with market value of $44.54 trillion, which is followed by China with $10.26 trillion and Japan at $5.68 trillion. Hong Kong is at the fourth spot with market capitalisation of $5.14 trillion.