India’s stock market is poised to take Hong Kong’s spot among the world’s biggest exchanges, in a rise analysts say attests to investors’ optimism about the economic prospects of the world’s most populous country.
The total market capitalisation of India’s listed domestic companies was $3.7tn as of the end of October, according to the World Federation of Exchanges, a trade association of publicly regulated stock markets, compared with Hong Kong’s $3.9tn.
Indian share prices surged in November as a result of strong earnings and optimistic growth projections, putting its exchange group on track to become the world’s seventh largest after the New York Stock Exchange, Nasdaq, Shanghai, Euronext, Japan and Shenzhen.
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