India Overtakes Hong Kong to Become Fourth-Highest Global Equity Market

India Overtakes Hong Kong to Become Fourth-Highest Global Equity Market

VoM News Desk | January 23, 2024 | 09:54 AM IST | Breaking News | Follow on Google News

India Overtakes Hong Kong to Become Fourth-Highest Global Equity Market

India Overtakes Hong Kong to Become Fourth-Highest Global Equity Market

In a significant development, India has surpassed Hong Kong to become the fourth-highest equity market globally, according to Bloomberg. The combined value of shares listed on Indian exchanges reached USD 4.33 trillion, exceeding Hong Kong’s USD 4.29 trillion as of Monday’s close. This achievement highlights the robust performance of the Indian stock market, which crossed the USD 4 trillion mark for the first time on December 5, 2023.

The top three global equity markets are currently the United States, China, and Japan. India’s ascent to the fourth position reflects its attractive investment landscape, characterized by firm GDP growth forecasts, manageable inflation levels, political stability at the central government level, and positive sentiments among global investors. The country’s stock market has witnessed substantial gains over the past 12 months, with the Sensex and Nifty showing impressive cumulative returns of 17-18% in 2023 alone.

India’s appeal as an alternative to China, coupled with a stable political setup and a consumption-driven economy, has attracted significant capital from global investors. The strong inflow of funds from foreign portfolio investors (FPIs) has further supported Indian stocks, contributing to all-time highs in benchmark stock indices. In contrast, Hong Kong has faced challenges, including stringent COVID-19 restrictions, regulatory crackdowns, a property-sector crisis, and geopolitical tensions, leading to a historic slump in its stock market.

This milestone underscores India’s emergence as a key player in the global equity landscape, signaling confidence in its economic trajectory and attracting substantial investments from around the world.

VoM News Desk

VoM News is an online web portal in jammu Kashmir offers regional, National & global news.