India for the first time overtook Hong Kong in terms of stock market capitalization, reaching $4.33 earlier this week. Bloomberg writes about this.
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Currently, the Indian stock market ranks 4th in the world, second to The United States, China and Japan. Until recently, the Hong Kong stock market was in fourth position. The last place in the TOP is occupied by France.
Largest stock markets in the world as of December 2023/Bloomberg infographic
According to data collected Bloomberg, the total value of listed shares on Indian exchanges has reached $4.33 trillion, while the market capitalization in Hong Kong is $4.29 trillion.
The success of the Indian market is driven by the growth of small investors and high corporate profits. In addition, India competes with China and against the background of the outflow of investors from the Celestial Empire and the general gloomy situation in the Chinese economy, India is increasing its capital.
Earlier, the Ministry of Finance wrote that, according to forecasts of the Organization for Economic Cooperation and Development The Indian economy will show its strongest growth in the next two years. India is also leading the IPO market.
The growth of Indian shares comes against the backdrop of a historic decline in stock markets in China and Hong Kong.
On topic: Indian blue chip indices hit record levels
