The unabated rally in the stock market that’s continuing for about one and half years now, on Thursday took India past France in terms of market capitalisation. The day also saw the sensex rally past the 59k mark for the first time. It closed at 59,141 points, up 418 points on the day.
The recent rally has taken India’s market capitalisation to $3.44 trillion, ahead of France’s $3.39 trillion and within touching distance of fifth-placed UK which has a market cap of $3.7 trillion, Bloomberg data showed. The top four slots in this league table are occupied by the US ($51tn), China ($12.4tn), Japan ($7.4tn) and Hong Kong ($6.4tn).
In the last one month, India’s market cap has risen by about $300 billion or about Rs 22 lakh crore. In local currency, now India’s market cap is at Rs 263 lakh crore.
Official data showed that so far this year, the companies within the Tata group have contributed the most to India’s rise in market cap.
One of India’s oldest business conglomerates, it has added nearly Rs 7 lakh crore to its market value, followed by the Gujarat-headquartered Adani group that added Rs 4.8 lakh crore and the Pune-based Bajaj Group Rs 2.9 lakh crore.