The only other countries with a stock market capitalization of more than $3 trillion are the US, UK, China, Hong Kong, Japan, France and Canada.
The Bombay Stock Exchange on Monday announced that the cumulative market cap of all listed companies on its platform had hit the $3 trillion mark intraday for the first time in history.
BSE CEO Ashishkumar Chauhan took to Twitter to make the significant announcement.
He said, "Market capitalization of equities of listed companies on @bseindia reached USD 3 trillion intraday for the first time ever. A great milestone on a long journey. Congratulations to all 6.9 crore+ registered investors, 1400+ brokers,69,000+ MF distributors and 4700+ companies."
Market capitalization of equities of listed companies on reached USD 3 trillion intra day for the first time ever. A great milestone on a long journey. Congratulations to all 6.9 crore+ registered investors, 1400+ brokers,69,000+ MF distributors and 4700 + companies.
— Ashish Chauhan (@ashishchauhan)
The only other countries with a stock market capitalization of more than $3 trillion are the US, UK, China, Hong Kong, Japan, France and Canada.
According to experts, India has been among the better-performing countries in the last few months. That's courtesy a faster recovery in domestic demand after the Covid-forced disruptions and the government's focus on reviving the economy.
Based on the latest IMF projections, India's growth will rebound sharply to 11.5% in FY22 and 6.8% in FY23.