India is the best performing country among the top 5 stock markets in the world
Mumbai Mumbai: India is the best performing stock market among the top five stock markets globally, and has delivered more than 25 per cent returns (in terms of market capitalisation) since the beginning of 2024. The total market cap of the Bombay Stock Exchange (BSE) reached Rs 462 lakh crore (over $5.5 trillion) on Wednesday due to the spectacular rally. During this period, the US stock market rose by 13.50 per cent, Hong Kong rose by 4.15 per cent, Japan rose by 4.02 per cent and China’s stock market gave a negative return of 13.61 per cent.
The US is the largest stock market in the world with a market cap of $57.28 trillion. It is followed by China at the second place with a market cap of $8.24 trillion, Japan at the third place with a market cap of $6.49 trillion and India at the fourth place with a market cap of $5.51 trillion. Hong Kong is the fifth largest stock market in the world with a market cap of $4.92 trillion. The market capitalization of the stock market crossed one trillion dollars for the first time on May 28, 2007. After another 10 years, it reached $2 trillion on July 10, 2017 and after another four years it reached $3 trillion on May 24, 2021 and then after more than two years it reached $4 trillion on November 30, 2023 and in another six months it crossed the $5 trillion mark on May 24, 2024. The tremendous surge in the Indian stock market is due to the strong performance of GDP. In the financial year 2023-24, the GDP grew at the rate of 8.2 percent and the Economic Survey states that the GDP may grow at the rate of 7 percent in the financial year 2024-25.