Team Blitz India
NEW DELHl: Indian markets on November 29 hit the historic $4 trillion market cap milestone for the first time. Currently, there are only three countries in the $4-trillion-plus mcap club–US, China and Japan. Hong Kong too, is part of the club. However, a large contribution is on account of companies belonging elsewhere, mainly China.
Market value of all BSE-listed companies currently is at a record high of Rs 333 trillion, translating into $4 trillion.
With a market cap of almost $48 trillion US is by-far the world’s largest equity market. Followed by China ($9.7 trillion) and Japan ($6 trillion).
According to Bloomberg data, India’s market cap has risen nearly 15 per cent so far this calendar year, even as China’s has seen a 5 per cent erosion in its market cap. The US is the only market in the top-10 market cap club which has grown at a faster clip than India at 17 per cent. The combined world market cap has grown 10 per cent this year to $106 trillion.
The mcap gains this year are propelled by gains in the broader market mid- and small-cap stocks. Stocks outside the top-100 now contribute 40 per cent to the country’s market cap, up from 35 per cent during the start of this financial year.