The country’s market capitalisation crossed the $3-trillion mark for the first time as the stock market made a remarkable turnaround since one of the fiercest sell-offs witnessed in March 2020 and a relatively stable rupee, backed by India’s record-high forex reserves.
On Monday, the BSE said its market cap crossed $3 trillion, nearly four years since crossing the $2 trillion mark in July 2017.
At the close of trade on Monday, the figure was at Rs 218 lakh crore or a little over the $3-trillion mark. BSE’s market cap is taken as the representative of aggregate market value of India since a larger number of companies are listed on the BSE than on the NSE.
India’s market cap crossed this milestone much ahead of its GDP, which is estimated to cross the $3-trillion mark by the end of 2021, a recent report by the IMF said.