New Delhi: India’s stock market has another feat in its journey milestone. Indian stock marke now stands as the world’s fourth-largest equity market, surpassing Hong Kong for the first time, data by Bloomberg has said. The total value of shares on Indian stock market hit $4.33 trillion, going past Hong Kong’s $4.29 trillion on Monday.
Dalal street reached another significant milestone in November last year, when the market valuation of all listed companies on the leading BSE stock exchange reached $4 trillion mark. For the Indian stock market it only took two-and-a-half years to reach the $4 trillion landmark as it touched the $3 trillion mark on May 24, 2021. The journey from $1 trillion to $1.5 trillion was covered in just over seven years from June 6, 2014. The $2 trillion in market capitalization was breached on July 10, 2017, which took 1,130 days from the $1.5 trillion level.
The climb from the $1 trillion level to $2 trillion was completed in ten years. It took 1,255 days to surpass the $2.5 trillion mark on December 16, 2020.
Stock Markets remained closed on Monday to celebrate Pran Pratistha ceremony for the Ram Temple in Ayodhya. Money markets and forex trading were also closed.
NSE and BSE conducted normal trading sessions on Saturday as stock markets were to be closed on January 22 amid a half-day holiday declared by banks.
Benchmark indices Sensex and Nifty pared initial gains and settled lower on Saturday due to selling in FMCG and IT shares. The 30-share BSE Sensex fell by 259.58 points or 0.36 per cent to settle at 71,423.65 as 24 of its components declined and six advanced. The Nifty declined 50.60 points or 0.23 per cent to 21,571.80.