Economy
India Regains Fifth Position In Global Stock Market Rankings, Valuation Soars Past $3.31 Trillion
Bombay Stock Exchange (Manoj Patil/Hindustan Times via Getty Images)
India has regained its position as the world's fifth-largest market following a strong rally in local equities.
After briefly losing the spot to France in January, the Indian stock market's positive performance contributed to its resurgence in ranking.
Since March 28, the local equity market in India has been experiencing a rally fueled by continued buying from foreign investors and improving macroeconomic conditions in the country.
The Sensex and the Nifty saw a significant jump of nearly 10 percent, while the BSE MidCap and SmallCap climbed nearly 15 percent. The BSE Bankex also showed strong growth of nearly 13 percent.
Foreign investors have displayed confidence in the Indian market by purchasing around $6.3 billion worth of local equities in the last two months.
With a market capitalisation of $3.31 trillion, India now holds the fifth position among the top-10 most-valued countries.
It has seen a remarkable increase of approximately $330 billion in market capitalisation since the beginning of this year.
In comparison, the United States remains at the top with a market value of $44.54 trillion, followed by China with $10.26 trillion and Japan with $5.68 trillion. Hong Kong secures the fourth spot with a market capitalisation of $5.14 trillion, while France now ranks sixth with a market value of $3.24 trillion.
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