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Indian stock markets surpass global benchmarks in market capitalization

Indian stock markets surpass global benchmarks in market capitalization
Indian stock markets surpass global benchmarks in market capitalization


New Delhi, June 15: As Indian stock markets continue to hit new highs almost every day after the new government is formed, they are also outperforming global benchmarks.

In a new feat, India took over the fourth largest position in the global stock market from Hong Kong.

The country's market capitalization jumped 10 per cent to $5.2 trillion (BSE-listed companies).

In comparison, Hong Kong's market capitalization stands at $5.17 trillion, down 5.4 percent from this year's peak of $5.47 trillion.

On a price-to-book basis, India trades three times, while Hong Kong trades only one time.

This comes as the Indian stock market has seen a significant rebound in recent months and is now attracting global funds which will accelerate in the near future.

The National Stock Exchange (NSE) benchmark Nifty has surged nearly 6 per cent in the last month and 11.84 per cent in the last six months.

According to market analysts, Nifty is expected to reach 25,816 in the next 12 months.

Prabhudas Lilladher experts predict that the BJP-led NDA government will maintain focus on capital expenditure-led growth, especially in sectors such as production linked incentives (PLI), infrastructure development , including roads, ports, aviation, defense, railways, and green energy.

This expectation is supported by a 20 basis point reduction in the fiscal deficit for FY24, normal monsoon forecasts and an expected dividend of Rs 2.1 trillion from the RBI.

Analysts expect the NDA government to focus more on farmers, the rural and urban poor and the middle class to curb the impact of the new reversal brought about by social engineering and freebies in some states in recent elections.

At the same time, stock markets have become a preferred investment destination for retail investors.

According to experts, the main drivers of this bull market are Indian retail investors, including HNIs, and heavy selling by FIIs is being overshadowed by aggressive buying by DIIs and retail investors.




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