Thursday, October 28, 2021

Indian Stock Market becomes sixth-largest, overtakes France

India is now the world’s sixth-largest stock market, overtaking France for the first time in market capitalization, with the benchmark Sensex rising over 23 per cent this year.

India’s market capitalization stood at $3.4055 trillion on Tuesday, September 14, 2021, compared to $3.4023 trillion in France, according to Bloomberg data.

India recorded the biggest gain in market cap this year, registering more than $873.4 billion or a rise of 35 per cent from $2.52 trillion on 31 December 2020. Since March 2020, India added nearly $2.08 trillion market cap or a 159 per cent gain. In 2020, it added a market cap of $373 billion, or a gain of 17.4 per cent from $2.14 trillion.

Top share markets in the world

The US stock market is the world’s most valuable with a market cap of $51.3 trillion, followed by China $12.42 trillion, Japan $7.43 trillion, Hong Kong $6.52 trillion and the UK $3.68 trillion.

Sensex & Nifty Growth

Both Sensex and Nifty gained 23 per cent and 25 per cent year-on-year, respectively, while foreign and domestic investors bought shares worth $8 billion and Rs 23,532 crore.

As per the industry experts, sentiment is extremely bullish and there is a possibility of hitting more record highs.

Indian share market current and further growth indicators

– Foreign investor flow with a sharp improvement in key economic indicators such as the index of industrial production for July, which was 11.5 per cent. The easing of retail inflation to 5.3 per cent for August is a good sign. This would help the RBI maintain its soft monetary policy stand to support the ongoing recovery in economic momentum.

– Strong liquidity and positive macroeconomic cues are likely to support the domestic markets to continue with their movements at record levels. With the festive season beginning and the easing of Covid-19 restrictions continuing, consumer demand is expected to pick up, which would further lead to market growth.

– Better-than-expected GDP and Goods and Services Tax (GST) collections indicate a steady rebound in earnings. It will help the stock market maintain premium valuations.

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