India breaks into world’s top five club in terms of market capitalisation


India’s equity market has broken into the world’s top five club in terms of for the first time. The country’s total market cap stands at $3.21 trillion, which is higher than that of the UK ($3.19 trillion), Saudi Arabia ($3.18 trillion), and Canada ($3.18 trillion).

This year, India has climbed two positions, despite a 7.4 per cent drop in its market cap. At the start of the year, the UK and France ranked fifth and sixth with a market cap of $3.7 trillion and $3.5 trillion, respectively.

Russia’s attack on Ukraine has upended the ranking with European nations seeing the maximum erosion in market cap. Germany, once among the top five markets, has now slipped to tenth.

Meanwhile, Saudi Arabia has climbed three places from 10th to 7th. The country, particularly its biggest firm Aramco, stands to gain from the surge in oil prices this year.

Shares of the state-owned oil giant are up 15 per cent year to date, valuing the company at nearly $2.4 trillion, only behind Apple,the world’s most valuable firm, with a market cap of $2.6 trillion.


Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor


Source link