India's market capitalisation (mcap) hit the $5-trillion milestone on Tuesday, with the buoyant domestic markets adding $1 trillion in market value in under six months.
This makes India the fifth country/region to join the exclusive $5-trillion m-cap club, alongside the US, China, Japan and Hong Kong.
However, on a closing basis, India's mcap, which represents the combined market value of all firms listed on the BSE, stood at $4.97 trillion (₹414.6 trillion).
The National Stock Exchange (NSE), a larger exchange with fewer listed companies, reported a combined mcap of $4.93 trillion, or 411 trillion.
India's mcap has seen a surge of over 60 per cent ― the highest among major markets from its lows in March 2023, driven by a rally in shares of small- and midsized firms. This increase in market value is attributed to a re-rating of valuations amid improved economic and earnings growth prospects compared to most global and emerging market peers.
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