MUMBAI - A surge in investments by retail traders and resurgent foreign inflows have put India's stock market - the world's fifth biggest - on the verge of a US$4 trillion (S$5.35 trillion) valuation for the first time.
The market capitalisation of securities listed on the nation's exchanges has trebled since the March 2020 pandemic low to come within a whisker of the US$4 trillion mark as at Dec 4, according to data compiled by Bloomberg.
India's benchmark NSE Nifty 50 Index jumped 2.1 per cent on Dec 4, leading gains in Asia, after Prime Minister Narendra Modi's ruling party won three crucial state elections. The victories removed an element of political risk for investors by bolstering Mr Modi's position ahead of nationwide polls in 2024, increasing bets for continuity in government policy.
The feat for India's stock market comes as the world's fastest-growing major economy positions itself as an alternative to China for global investors and companies alike.
Denne historien er fra December 06, 2023-utgaven av The Straits Times.
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Denne historien er fra December 06, 2023-utgaven av The Straits Times.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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