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:
- United States: $57.28 trillion market cap
- China: $8.24 trillion market cap
- Japan: $6.49 trillion market cap
- India: $5.51 trillion market cap
- 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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