In good news, the Indian stock market hogged the limelight for the latest achievement India’s domestic and equity market outsmarted Germany to become the world’s seventh largest stock market with a staggering market cap of $2.1 trillion.
To recall that, Germany is Europe’s biggest share market and it is indeed a milestone for India to hit the headlines. According to Bloomberg data, Indian stock market, for the first time in seven years, has leapfrogged European’s largest economy.
The order of the 7 biggest stock markets in the world in terms of market capitalisation are as follows:- US, China, Japan, Hong Kong, UK, France, and India. At the end of 2017, India was ranked 9th despite its market cap being estimated at $2.4 trillion.
But this time, India managed to surpass both Germany and Canada to take the 7th spot. Germany and Canada saw a steady 18 per cent decline in market value as they currently rank below India.
The milestone came soon after India’s massive returns as organizations rely upon domestic demand. For now, the Indian companies have raised roughly around Rs 6 lakh crore from equity and debt instruments in 2018.
(inputs from agencies)