Sumary of Indian stock market overtakes France; becomes sixth biggest:
- India posted the biggest gain in market value this year, adding more than $873.4 billion or a rise of 35% from $2.52 trillion on 31 December 2020. Since the March 2020 low, India added nearly $2.08 trillion market cap or a 159% gain.
- In 2020, it added a $373 billion market cap or gains of 17.4% from $2.14 trillion.
- “Strong liquidity and positive macroeconomic cues are also likely to support domestic markets to continue their movements to record levels.
- Both Sensex and Nifty advanced 23% and 25%, respectively, year-to-date, while foreign and domestic investors bought stocks worth $8 billion and ₹23,532 crore.
- This should help the Reserve Bank of India maintain its soft monetary policy stance to support the ongoing recovery in economic momentum.