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India Emerges as Top-Performing Stock Market with Over 25% Return in 2024

July 31, 2024

New Delhi, India

India has solidified its position as the best-performing stock market among the top five globally, delivering an impressive return of over 25% in terms of market capitalization since the beginning of 2024. This remarkable performance has propelled the total market cap of the Bombay Stock Exchange (BSE) to ₹462 lakh crore (over $5.5 trillion) as of Wednesday.

Global Market Comparisons:

  • US Stock Market: Increased by 13.50%
  • Hong Kong Stock Market: Gained 4.15%
  • Japan Stock Market: Rose by 4.02%
  • China Stock Market: Decreased by 13.61%

Global Market Rankings:

  1. United States: $57.28 trillion market cap
  2. China: $8.24 trillion market cap
  3. Japan: $6.49 trillion market cap
  4. India: $5.51 trillion market cap
  5. Hong Kong: $4.92 trillion market cap

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Milestones in Indian Market Capitalization:

  • May 28, 2007: Crossed $1 trillion
  • July 10, 2017: Reached $2 trillion
  • May 24, 2021: Hit $3 trillion
  • November 30, 2023: Surpassed $4 trillion
  • May 24, 2024: Achieved $5 trillion

Driving Factors:

The meteoric rise in the Indian stock market can be attributed to the country’s robust economic performance. In the financial year 2023-24, India’s GDP grew at an impressive rate of 8.2%. According to the Economic Survey, the GDP is projected to grow at a rate of 7% for the financial year 2024-25.

Conclusion:

India’s stock market has outshined its global counterparts, demonstrating resilience and strong economic fundamentals. Investors and market participants are optimistic about the country’s continued growth, further solidifying India’s position in the global economic landscape.

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Disclaimer:

CurrencyVeda provides this news article for informational purposes only. We do not offer investment advice or recommendations. Before making any investment decisions, please conduct thorough research, consult with financial experts, and carefully consider your financial situation, risk tolerance, and investment goals. Investing in the stock market carries risks, and it’s essential to make informed choices based on your individual circumstances. CurrencyVeda is not liable for any actions taken based on the information provided in this article.

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