India Market: Today is again a happy day for the Indian stock market and once again the country’s stock market has achieved a big milestone. The Indian stock market has once again become the fifth largest stock market in the world. In the ranking of the global stock market, India has achieved this position by leaving behind France. In January, France overtook India at the sixth spot and grabbed the fifth spot.
France had left India behind in January
In fact, after the tremendous fall of Adani shares in January 2023, there was a sharp decline in the market capitalization of the Indian stock market, after which the Indian markets lagged behind France. But with the recovery of Adani shares seen recently, the Indian stock market has regained its lost status and has again become the fifth largest stock market in the world.
The market capitalization of India’s stock market came to $ 3.3 trillion
On last Friday, the market capitalization of India’s stock market came to $3.3 trillion. Behind this, there was a strong rise in Adani shares and tremendous buying by foreign funds. At the same time, the fifth place market France lost more than $ 100 billion out of its market value last week. The reason behind this was that in the French market, heavy selling was seen in the shares related to the luxury goods manufacturer LVMH. This was mainly seen due to the apprehension of economic recession in America and China and its effect was also seen on the stock market of France.
India benefits from China’s faltering economic reforms
India is benefiting from the faltering economic reforms in China. Based on this, foreign funds are being seen investing money in Indian stocks from Asia’s largest economy. Foreign investors have added $ 5.7 billion to Indian stocks since the beginning of April, which is proving to be a huge fund for the stock market here. India has recently been helped by the highest GDP growth rate among the world’s major economies and the environment of stable income growth here is motivating foreign investors as well as domestic investors to invest money.
Sensex showed 9 percent recovery
The S&P BSE Sensex index has shown a return of over 9 per cent after closing at a record high following a mid-March dive. A rebound in Adani Group’s fortunes fueled the market’s bullish momentum after a court-appointed panel said it found no conclusive evidence of stock price manipulation, according to a January report by US short seller Hindenburg Research. I was accused of.
Excellent performance of Adani companies helped
Adani’s 10 listed firms added nearly $15 billion to their market capitalization last week. After the Hindenburg report, their deficit may come down to $105 billion from the earlier high of $153 billion.
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