The Indian stock market has pipped Hong Kong to become the fourth-highest equity market globally, Bloomberg reported. The combined value of shares listed on Indian exchanges reached USD 4.33 trillion as of Monday's close, versus USD 4.29 trillion for Hong Kong, according to data compiled by Bloomberg.
India's stock market capitalization crossed USD 4 trillion for the first time on December 5, 2023, with about half of that reportedly coming in the past four years. The top three stock markets are the U.S., China, and Japan.
Cumulatively, the past 12 months have been stellar for investors who parked their money in Indian stocks. Though there has been some turbulence, the calendar year 2023 gave handsome monetary dividends to stock market investors.
By 2023, Sensex and Nifty have returned 17-18% cumulatively. By 2022, it will increase to just 3-4%. The data shows that Hong Kong's and the Hang Seng index have fallen 32-33% in the past year.
Firm GDP growth forecast, inflation at manageable levels, political stability at the central government level, and signs that the central banks the world over are done with their monetary policy tightening have painted a bright picture for India - which many agencies have termed to be the fastest-growing major economy.
