India's market regains fifth position globally as m-cap crosses $5 trillion
New Delhi, June 29
India has regained the fifth position in the global equity market capitalisation rankings after market value crossed the $5 trillion mark, following corrections in Taiwan and South Korea, even as domestic equities continued to outperform several global peers this month.
India's total market capitalisation currently stands at over $5 trillion, ahead of Taiwan at $4.97 trillion and South Korea at $4.66 trillion, restoring India's position as the world's fifth-largest equity market.
Meanwhile, the market capitalisations of the US and China remained largely unchanged during the period.
However, the change in rankings comes as investors booked profits in Taiwan and South Korea after months of record-breaking rallies driven by artificial intelligence (AI) and semiconductor stocks.
In addition, global equity markets have largely underperformed in June, while Indian shares have remained relatively resilient.
During the month, India's market capitalisation rose 2.75 per cent, whereas South Korea's and Taiwan's market capitalisation declined 4.7 per cent and 2.3 per cent, respectively.
Among other major markets, Japan's market capitalisation fell about 1 per cent, Hong Kong declined more than 8.3 per cent, Canada slipped 3 per cent, the UK lost around 2 per cent, France fell 1.1 per cent and Germany declined 5.6 per cent.
Many analysts attributed the resilience in Indian equities to easing crude oil prices, improving valuations and sustained foreign investor interest.
According to them, Nifty's price-to-earnings multiple has moderated from nearly 24 times to around 18 times, making valuations more attractive.
Additionally, Indian equity benchmarks outperformed many global peers.
So far this month, Sensex and Nifty have gained almost 4 per cent and nearly 3 per cent, respectively in dollar terms.
— IANS
Reader Comments
All this market cap talk is fine, but what about the common man? Stock markets going up doesn't mean my salary increases or inflation comes down. The gap between rich and poor is just widening. We need more inclusive growth, not just numbers on a screen.
Very encouraging! The fact that Indian markets are outperforming even developed economies like UK, France, and Germany shows we're on the right track. Credit to the government's reforms and strong domestic consumption. Now we need to maintain this streak and aim for top 3! 🚀
Being a CA student, this makes me proud to see our country's market cap crossing $5 trillion! The drop in PE ratio from 24 to 18 is a healthy correction. But my only concern is whether this is sustainable given global uncertainties and geopolitical tensions. Let's hope for the best! 🤞
India shining! While others are struggling, we're gaining. Easing crude oil prices and sustained FII interest are key positives. The fact that Nifty gained nearly 3% in dollar terms shows the strength of our economy. Jai Hind! 🇮🇳
Good to see India reclaiming 5th position, but let's not get too carried away. Most of this growth is concentrated in a few large-cap stocks and FII-dependent sectors. Retail investors need to be cautious. What we really need is broad-based growth that benefits the entire economy, not just the BSE Sensex.
We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.