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India's stock market overtakes Hong Kong in market capitalization

EditorNatashya Angelica
Published 2024/01/24, 08:02
© Pavlo Gonchar / SOPA Images/Sipa via Reuters Connect

MUMBAI - India's equity market has achieved a significant milestone by surpassing the market capitalization of Hong Kong's stock exchange. The Indian stock market's continuous expansion over the last eight years has culminated in a market capitalization of $4.33 trillion, edging out Hong Kong's $4.29 trillion. This growth places India's stock market in a prominent position on the global stage.

The United States remains the dominant force in global stock markets, boasting a market capitalization of $50.86 trillion. Behind the US, China holds the second-largest stock market with a market capitalization of $8.44 trillion, while Japan comes in third at $6.36 trillion.

The rise of India's stock market is attributed to a burgeoning retail investor base and favorable macroeconomic conditions that have supported its eight consecutive years of gains.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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