Business

India’s Stock Market Leads Globally With Remarkable Gains In 2024

India has emerged as the standout performer in global stock markets this year, with an impressive return of over 25% in market capitalization since the start of 2024.

This stellar rally has propelled the Bombay Stock Exchange (BSE) to a market capitalization of Rs 462 lakh crore, equivalent to more than $5.5 trillion as of Wednesday.

In stark contrast, other major markets have seen varied performances.

The US stock market, the world’s largest, delivered a 13.50% return, while Hong Kong’s market saw a modest increase of 4.15%.

Japan’s stock market followed closely with a 4.02% gain. Meanwhile, China experienced a decline of 13.61%, reflecting a challenging period for its equity markets.

Globally, the US remains the dominant stock market with a valuation of $57.28 trillion, followed by China at $8.24 trillion, Japan at $6.49 trillion, and India now at $5.51 trillion.

Hong Kong ranks fifth with a market cap of $4.92 trillion.

The Indian stock market’s ascent is particularly noteworthy when viewed in a historical context.

It first surpassed the $1 trillion mark on 28 May 2007.

By 10 July 2017, it had doubled to $2 trillion, and by 24 May 2021, it reached $3 trillion.

Just over two years later, it crossed $4 trillion on 30 November 2023, and within six months, it hit the $5 trillion milestone on 24 May 2024.

This meteoric rise is closely tied to India’s robust economic performance.

For the financial year 2023-24, India’s GDP grew at a remarkable rate of 8.2%.

Projections for the 2024-25 fiscal year indicate a slightly moderated yet strong growth rate of 7%, underscoring the underlying strength of the Indian economy and its positive impact on the stock market.

Also Read: Indian Markets Open Positively; Driven By Asian Trends

Mankrit Kaur

Recent Posts

Amitabh Bachchan Celebrates Son Abhishek’s Silver Jubilee In Bollywood

Amitabh Bachchan marked the 25th anniversary of Abhishek Bachchan’s cinematic journey with a heartfelt message…

18 mins ago

How Light Exposure In The Morning Affects Your Sleep Quality

Morning exposure to natural light plays a vital role in regulating your circadian rhythm &…

43 mins ago

Stampede During Jagannath Rath Yatra In Puri Claims Three Lives

Three devotees, including two women, lost their lives and ten others were injured in a…

54 mins ago

Odisha CM & Gautam Adani Discuss Future-Ready Infrastructure

Gautam Adani visits to Chief Minister Mohan Charan Majhi at State House of Odisha to…

1 hour ago

Earthquake Of Magnitude 5.3 Shakes Punjab Region Of Pakistan

A shallow 5.3-magnitude earthquake struck central Pakistan’s Punjab province early on Sunday, with tremors felt…

1 hour ago

Gautam Adani Hails Puri Lifeguards As Unsung Heroes During Rath Yatra Visit

Gautam Adani, Chairman of the Adani Group, visited Puri in Odisha during the annual Rath…

11 hours ago