Mumbai, July 31 (IANS) India is the best-performing stock market among the top five globally, and it delivered over 25 per cent return (in terms of market cap) from the beginning of 2024.
Due to a stellar rally, the total market cap of the Bombay Stock Exchange (BSE) reached Rs 462 lakh crore (over 5.5 trillion dollars) on Wednesday.
During this period, the US stock market surged 13.50 per cent, Hong Kong rallied 4.15 per cent, Japan surged 4.02 per cent, and the China stock market gave a 13.61 per cent negative return.
The US is the world's largest stock market with a market cap of 57.28 trillion dollars. After this, China is in second position with a market cap of 8.24 trillion dollars, Japan is in third position with a market cap of 6.49 trillion dollars, and India is in fourth position with a market cap of 5.51 trillion dollars. Hong Kong is the world's fifth-largest stock market with a market cap of 4.92 trillion dollars.
The market capitalisation of the stock market crossed one trillion dollars for the first time on May 28, 2007. After the next 10 years, it reached 2 trillion dollars on July 10, 2017, and after the next four years it reached 3 trillion dollars on May 24, 2021, and then after more than two years, it reached 4 trillion dollars on November 30, 2023, and in the next six months, the 5 trillion dollars mark was crossed on May 24, 2024.
The meteoric rise in the Indian stock market is due to the strong performance of the GDP. In the financial year 2023-24, GDP grew at the rate of 8.2 per cent and the Economic Survey reported that GDP may grow at the rate of 7 per cent in the financial year 2024-25.
