New Delhi: In what could be a proud moment for 130 billion Indians, India’s stock market has now become the world’s sixth-biggest stock market according to market capitalization for the first time in history.
The giant leap has come in the backdrop of benchmark Sensex jumping over 23% in the ongoing year. In 2021, India’s stock market has posted its biggest gain in terms of market value. Since 31 December 2020, the stock market has added $873.4 billion.
India toppled the French stock market to become the 6th largest stock market in the world. According to Bloomberg data, India’s stock market capitalisation reached $3.4055 trillion on Tuesday. At the same time, France’s stock market cap stood a tad bit lower at $3.4023 trillion.
Moreover, the stock market boom has come after the market crash in March 2020 due to the COVID-19 pandemic. In comparison to the March 2020 low, India’s stock market has gained a market cap of $2.08 trillion to take the total market at above $3.4 trillion.
The 159% gain since March 2020 indeed reflects the bullish optimism of Indian and foreign investors in India Inc.
Currently, the US stock market is the most valued in the world. The market cap of the US stock exchange currently stands at about $51.3 trillion, followed by China’s stock market which is valued at $12.42 trillion. Also Read: iPhone 13 country wise price list: Compare India, US, Australia, UAE, Canada rates to save up to Rs 40,000
At number three, four and five are the stock exchanges of Japan, Hong Kong and the UK, which have a market capitalisation of $7.43 trillion, $6.52 trillion and $3.68 trillion, respectively. Also Read: PF subscribers alert! EPFO could soon allow investors to hike investments in equity