Anand Mahindra Praises India¡¯s Stock Market After It Overtakes Hong Kong As World¡¯s Fourth Largest

In a proud moment for the entire nation, India has overtaken Hong Kong as the world¡¯s fourth largest stock market for the first time ever. Its been a no-brainer that 2023 was a super happy year for India¡¯s stock market, with both Sensex and Nifty reaching newer all time highs multiple times by booming 17%-18%, thus making our nation a darling for investors.

Anand Mahindra Praises India's Stock Market

Anand Mahindra Praises India¡¯s Stock Market As It Becomes World's 4th Largest/indiatimes

Reacting to his feat, billionaire Anand Mahindra tweeted on Tuesday to praise India¡¯s stock market upon achieving this milestone, saying "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¡­"

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¡­¡­ https://t.co/xYuuNkDd6T

¡ª anand mahindra (@anandmahindra) January 23, 2024

Reasons Behind India's Stock Market Boom

india stock market overtakes hong kong/shutterstock

At a time when recession fears, high inflation and mass layoffs are still concerning the world, India's stock market is scripting its own story.

The combined value of shares listed on India' stock exchanges hit the $4.33 trillion mark earlier this week on Monday, making it overtake Hong Kong's $4.29 trillion mark, as per Bloomberg report. This feat makes India the fourth largest stock market in the world. Last year in December, India's stock market had hit the $4 trillion mark for the first time, with about $2 trillion out of that coming in in the last four years only.

The reasons behind Sensex and Nifty thriving so much in recent years, are the robust corporate earnings and a steadily expanding base of retail investors who are beginning to understand the massive potential of stock market. As per Bloomberg, India's stable political system and a consumption-driven economy are a big plus too, which is helping the world's most populated country position itself as a viable alternative to China, grabbing fresh investment inflows from both international investors as well as companies, besides the domestic investor boom.

Also Read: How The Stock Market Crash Of 1929 Led To World War II

List Of World¡¯s 5 Largest Stock Markets

worlds largest stock market/indiatimes

As India becomes world's fourth largest stock market, here's a look at who all feature in the top 5 list at present (in terms of their market cap):.

1. USA-$50.86 trillion

2.China-$8.44 trillion

3.Japan-$6.36 trillion

4.India-$4.33 trillion

5.Hong Kong-$4.29 trillion

Also Read: Inside The Portfolios Of India's Biggest Stock Market Investors

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