'It was inevitable...': Anand Mahindra after Indian stock markets surpass Hong Kong in market cap
Markets LIVE Updates here "It was inevitable… Markets often seem irrational, but at their best, they are harbingers of an economy’s future. And the future looks strong, to say the least. Continuing reforms combined with strong governance of markets and the financial system will keep us Rising…" he posted.
As of the latest closing on January 22, the total value of shares listed on Indian exchanges surged to $4.33 trillion, surpassing Hong Kong's $4.29 trillion, according to data compiled by Bloomberg. Also Read | India Overtakes Hong Kong as world's fourth largest stock market Before this, India had achieved a significant milestone on December 5 when its stock market cap crossed the $4 trillion mark for the first time. The growth can be attributed to several factors, including a growing retail investor base, continuous inflows from foreign institutional investors (FII), robust corporate earnings, and strong domestic macroeconomic fundamentals, the report added.
India has emerged as a viable alternative to China, attracting fresh capital from global investors and companies. The stable political environment and a consumption-driven economy, ranking among the fastest-growing globally, contribute to India's attractiveness, it said. In 2023, overseas funds poured more than $21 billion into Indian shares, contributing to the eighth consecutive year of gains for the country's benchmark S&P BSE Sensex Index.
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