STOCK NOW Watch Out Hong Kong – India's Stock Market Is...

Watch Out Hong Kong – India’s Stock Market Is Fast Catching up

-

- Advertisment -
  • India’s stock market hit a $4 trillion valuation for the first time on Tuesday, per Bloomberg.
  • It’s narrowing the gap with Hong Kong, the world’s fourth-largest stock market.
  • India is the world’s fastest-growing economy and projected to expand by 6.3% this year.

The value of companies listed on India’s stock exchanges hit $4 trillion for the first time on Tuesday – narrowing the gap with Hong Kong, Bloomberg reported.

Hong Kong is the world’s fourth-largest stock market, but is now worth less than $4.7 trillion following an 18% slide in the Hang Seng Index this year.

In contrast India’s two main indexes, the Sensex and the Nifty, are up 13.3% and 14.6% this year.

The Indian market was worth less than $1.5 trillion in pandemic-affected 2020, according to Bloomberg, but has since made significant gains.

Investors have been reassured by wins in three state elections this weekend for India’s ruling party, headed by prime minister Narendra Modi.

“The market is taking comfort from the victory of BJP due to hopes of policy continuity in 2024, focusing on growth rather than fiscal populism,” Sanjeev Hota of stock broker Sharekhan told Reuters.

Despite global economic headwinds, India — the world’s fastest-growing economy — is projected by the IMF to expand by 6.3% this year.

Investors, from Apple to Goldman Sachs, have been upbeat about the country as a destination for investment.

The three biggest stock markets are the US, worth just over $48 trillion, followed by China at about $9.6 billion and Japan on almost $6 trillion, per Bloomberg figures.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

Kim Kardashian wears sexy knitted black dress as she joins Hollywood stars Cher, Tom Brady and Sylvester Stallone at grand opening of the new...

Kim Kardashian made a low-key arrival at the launch of the launch of Fontainebleau Las Vegas — the newest upscale resort in...

Nifty Today | Share Market Live Updates: Sensex surges 850 pts; Nifty tops 21,400; TCS, Infy, HCL Tech lead

Nifty Today | Share Market Live Updates: India's key stock indices are seeing strong gains, hitting new...

Popularity is still on the rise for the only two Paralympic exclusive sports

One sport is hundreds, possibly thousands, of years old while the other is a relative newcomer. Nevertheless, they do have...
- Advertisement -

In South Korea, more young people say marriage ‘not necessary’ as nation’s birth rates plummet

“I don’t like either scenario. I will make a living for myself and myself alone is enough,” he said.Children...

Must read

- Advertisement -

You might also likeRELATED
Recommended to you