Indian Stock Market Now World's Sixth Largest

With the Indian stock market breaking records every day, it has now become the world's 6th largest in terms of market capitalization. Yesterday, with Sensex crossing the 59k mark, the stock market capitalization reached $3.4055 trillion. It marginally surpassed France having a market cap of $3.4023 trillion as per Bloomberg data.

In terms of market capitalization, the American share market is the world's most valued at $51.30 trillion followed by China ($12.42 trillion), Japan ($7.43 trillion), Hong Kong ($6.52 trillion), and Britain ($3.68 trillion). Now, India has grabbed sixth place, moving France to seventh.

Revival After Lockdown

After the market crash in March 2020 due to the nationwide lockdown, it has grown continuously with Sensex and Nifty advancing 23% and 25% respectively, year-to-date. The market had an m-cap of $2.52 trillion on 31 December 2020 which reached $3.41 trillion yesterday, recording 35% growth. It may cross the 60k mark soon.

Indian forex reserve has also crossed the $600 billion mark well before in June. Currently, India has the world's fourth-largest forex reserve after China, Japan, and Switzerland. Goods and Services Tax (GST) collections have also been above 1 lakh crore for the last two months.

Market experts have attributed the continuous rise of the Indian stock market to the inflow of foreign and domestic investment in the market and the economy almost reaching the pre-pandemic levels.