Mumbai: The Indian stock market has become the sixth largest market in the world. India overtook France to achieve this. The Indian market capitalization is at 3.4055 trillion US dollar and is bigger than compared to France’s 3.4023 trillion US dollar.
The Indian equity markets witnessed biggest gain this year as the BSE Sensex surged 23% this year. The equity markets also recorded biggest gain in market value this year, adding more than 873.4 billion US dollar or a rise of 35% from 2.52 trillion US dollar on 31 December 2020.
The market capitalization surged by 2.08 trillion US dollar or 159%. In 2020, it added a 373 billion US dollar market cap or gains of 17.4% from 2.14 trillion US dollar. The Indian benchmark indices BSE Sensex and NSE Nifty surged 23% and 25%, respectively, year-to-date. The foreign and domestic investors bought stocks worth 8 billion US dollar and Rs 23,532 crore.
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‘Strong liquidity and positive macroeconomic cues are also likely to support domestic markets to continue their movements to record levels. The consumer demand will be closely monitored as it is expected to pick up, given the festive season has begun and the restrictions are continuing to ease. However, concerns on the third wave of the (covid-19) pandemic still hover’, said Motilal Oswal in its report.
At present, the US equity market is the world’s largest and valued with a market cap of 51.3 trillion US dollar, followed by China (12.42 trillion US dollar), Japan (7.43 trillion US dollar), Hong Kong (6.52 trillion US dollar) and the UK (3.68 trillion US dollar).
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