In a positive development for the Indian economy, the market capitalisation of the Indian stock markets has surged past record $2.5 trillion, making the India home to the eighth largest stock market in the world, reports Livemint.
India crossed the $2.5 trillion market capitalisation milestone on bygone 28 December for the first time, surpassing the previous all-time high of $2.47 trillion capitalisation reached in January 2018.
At the beginning of 2020, India had a market capitalisation of $2.14 trillion. However, with COVID-19 pandemic beginning rage across the world, India’s market capitalisation had tumbled to $1.3 trillion on 23 March which was the lowest since March 2016. Since then, the markets have gone on to add $1.23 trillion, almost doubling the market value.
The year 2020 saw Indian markets outperform many other major markets with its market capitalisation gains of 17.4 per cent being behind only China’s 48.5 per cent, the United States (US)’ 24 per cent and Hong Kong’s 18 per cent.
Compared to India’s market capitalisation, the US and China’s figures stand at $42.78 trillion and $10.9 trillion.
Disclaimer: This is a syndicated post and published without any changes except for the headlines
