India Overtakes Hong Kong As World's Fourth-Largest Stock Market
NDTV
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 has overtaken Hong Kong's for the first time in another feat for the South Asian nation whose growth prospects and policy reforms have made it an investor darling.
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. That makes India the fourth-biggest equity market globally. Its stock market capitalization crossed $4 trillion for the first time on December 5, with about half of that coming in the past four years.
Equities in India have been booming, thanks to a rapidly growing retail investor base and strong corporate earnings. The world's most populous country has positioned itself as an alternative to China, attracting fresh capital from global investors and companies alike, thanks to its stable political setup and a consumption-driven economy that remains among the fastest-growing of major nations.
