India overtakes Hong Kong as world’s fourth-largest stock market
India overtook Hong Kong as the world's fourth-largest stock market, with the combined value of shares listed on Indian exchanges reaching $4.33 trillion as of Monday’s close.
India’s stock market has overtaken Hong Kong’s for the first time in another feat for the South Asian nation whose growth prospects and policy reforms have made it an investor darling.
The combined value of shares listed on Indian exchanges reached $4.33 trillion as of Monday’s close, versus $4.29 trillion for Hong Kong, according to data compiled by Bloomberg. That makes India the fourth-biggest equity market globally.
Its stock market capitalisation crossed $4 trillion for the first time on December 5, with about half of that coming in the past four years.
Equities in India have been booming due to a growing retail investors base and corporate earnings. The world's most populous country has become a global place for globals investors. The growing rally in the Indian stock market has coincided with a historic slump in Hong Kong.
The growing trend in the stock market is attributed to the growing interest in people to invest in stocks.