Team Blitz India
NEW DELHI: India’s stock market has overtaken Hong Kong’s to rank as fourth-biggest equity market globally for the first time, according to a Bloomberg report.
The combined value of shares listed on Indian exchanges reached $4.33 trillion as of January 22 close, versus $4.29 trillion for Hong Kong, according to data compiled by Bloomberg.
India’s stock market capitalization had crossed $4 trillion for the first time on December 5. The rally in the Indian stock market came on the back of a rapidly growing retail investor base, sustained inflows from foreign institutional investors (FII), strong corporate earnings and robust domestic macroeconomic fundamentals.
Moreover, India has positioned itself as an alternative to China, attracting fresh capital from global investors and companies alike, thanks to its stable political setup and a consumption-driven economy that remains among the fastest-growing of major nations.
On the other hand, Hong Kong markets have slumped, where some of China’s most influential and innovative companies are listed,
