The slew of reforms announced by the Centre for the telecom sector along with the expected announcement on a bad bank pushed India’s benchmark indices to new highs on Thursday that were maintained on Friday as well with the Sensex breaching the 59,000 mark and the Nifty topping 17,600.
India’s market cap stood at $3.4055 trillion on Tuesday against $3.4023 trillion in France, according to Bloomberg data. India posted the biggest gain in market value this year, adding more than $873.4 billion or a rise of 35% from $2.52 trillion on 31 December 2020.
The giant leap has come in the backdrop of benchmark Sensex jumping over 23% in the ongoing year. In 2021, India’s stock market has posted its biggest gain in terms of market value.
The 159% gain since March 2020 indeed reflects the bullish optimism of Indian and foreign investors in India Inc. In 2020, it added a $373 billion market cap or gains of 17.4% from $2.14 trillion.
Currently, the US stock market is the most valued in the world. The market cap of the US stock exchange currently stands at about $51.3 trillion, followed by China’s stock market which is valued at $12.42 trillion. At number three, four and five are the stock exchanges of Japan, Hong Kong and the UK, which have a market capitalisation of $7.43 trillion, $6.52 trillion and $3.68 trillion, respectively.