India’s stock market has overtaken Hong Kong to become the fourth-biggest equity market globally for the first time. As per data compiled by Bloomberg, the combined value of shares listed on Indian exchanges reached 4.33 trillion dollar as against 4.29 trillion dollar for Hong Kong.
India’s stock market capitalization had crossed four trillion dollar for the first time on 5th of last month. The rally in the Indian stock market came on the back of a rapidly growing retail investor base, sustained inflows from foreign institutional investors, strong corporate earnings and robust domestic macroeconomic fundamentals.