23 Jan, 24
India overtakes Hong Kong as world’s fourth-largest stock market
India overtakes Hong Kong as world’s fourth-largest stock market by market capitalisation
India’s stock market has overtaken Hong Kong’s to rank as fourth-biggest equity market globally for the first time, Bloomberg reported.
The combined value of shares listed on Indian exchanges reached $4.33 trillion as of Monday’s close, versus $4.29 trillion for Hong Kong, according to data compiled by Bloomberg.
India’s stock market capitalization had crossed $4 trillion for the first time on December 5.
The rally in the Indian stock market came on the back of a rapidly growing retail investor base, sustained inflows from foreign institutional investors (FII), strong corporate earnings and robust domestic macroeconomic fundamentals.
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