The BSE Sensex crossed the 51,000 mark on Friday while the NSE benchmark Nifty crossed the 15,000 level for the first time.
Total market capitalisation increased to $2.7 trillion with India’s stock market now being the seventh biggest, up three spots, in the world.
In recent developments, India may soon overtake France to become the sixth biggest in the world as India’s stock market is the second-best performer among the top 15 countries in 2021.
Almost after 11 months, India’s stock market edged past Canada, which is now the 8th biggest on the basis of market capitalisation.
The MSCI India index has gained 21% in the last three months compared to 19% by MSCI Emerging Market and 12% by MSCI World indices.
India’s growth will rebound sharply to 11.5% in FY22 and 6.8% in FY23 based on the latest IMF projections.
Analysts conclude that India has been among the better performers also because of a faster recovery in domestic demand after the Covid-19-led disruptions.
Foreign portfolio investors have pumped in nearly $4.05 billion in Indian equities since January 1, the second-best inflow among emerging markets after Brazil.
Weakness in the US Dollar has helped emerging markets’ performance in recent months.
However, total market capitalisation of France now stands at $2.86 trillion.
The Sensex has come a long way from its humble beginnings in 1986 when it traded at 549 while setting the base year of 1978–79 as 100.
In rupee terms, the overall m-cap of BSE is Rs 202 lakh crore as of February 9 close.
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