By market cap, India fourth largest stock market, overtakes Hong Kong

India’s stock market has overtaken Hong Kong’s to rank as fourth-biggest equity market globally for the first time,say reports

The combined value of shares listed on Indian exchanges reached $4.33 trillion as of Monday’s close, versus $4.29 trillion for Hong Kong, according to data compiled by some agencies.

India’s stock market capitalization had crossed $4 trillion for the first time on December 5. The rally in the Indian stock market came on the back of a rapidly growing retail investor base, sustained inflows from foreign institutional investors (FII), strong corporate earnings and robust domestic macroeconomic fundamentals.

Moreover, India has positioned itself as an alternative to China, attracting fresh capital from global investors and companies alike, thanks to its stable political setup and a consumption-driven economy that remains among the fastest-growing of major nations, Bloomberg reportedHK