India surpasses France to become fifth-largest stock market (rs)
08-06-2023 15:51
India surpasses France to become fifth-largest stock market
India surpasses France to become fifth-largest stock market

India is slowly but surely turning into a global leader. It has overtaken China as the world’s most populous country and is now strengthening its financial position. The Indian stock market has hit a capitalization of $3.3 trillion, becoming the fifth-largest in the world. The country is rapidly growing in all fields, and the Indian market is perhaps the most promising for foreign businesses.
Accordion to Bloomberg, India has reclaimed the spot as the fifth-largest stock market, surpassing France. Last month, its market capitalization totaled $3.3 trillion. The S&P BSE Sensex, the Bombay Stock Exchange Index tracking the performance of the top 30 companies in India, jumped by more than 9%, trading near record-high levels. Among the best-performing constituents of the index, Adani Group, a group of 10 firms listed on the exchange, added about $15 billion to its market value in the blink of an eye.
Analysts assert that an increase in the Indian stock market has been driven by a slowdown in China’s economic recovery. Large foreign investors, including hedge funds, are now actively moving their money from Asia's largest economy to Indian stocks, as the country has one of the highest GDP growth rates among the world's major economies. Since April 2023, foreign investors have put about $5.7 billion into Indian stocks.
“Whenever there is a downturn in the US or in the developed world, there is a bigger opportunity for countries like India, particularly in my sector, which provide better value for money,” Narayana Murthy, the founder of India’s second-largest tech giant Infosys, said.

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