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India’s share market boom- becomes the fifth largest stock market in the world, which countries are in the top 5?

India has reclaimed a humongous feat- it’s become the fifth largest stock market in the world only behind Hong Kong, as per Bloomberg. On December 27, the country’s market cap recorded 3.8% of the global total. It also sharply narrowed the gap with Hong Kong to just $500 billion which stood at $1.9 trillion a year ago.

The Indian bullish equity market increased its market capitalization by 0.52% in 2023 driven largely by the burgeoning domestic market.

Market Capitalization or market cap refers to the total worth of all companies’ shares.

If any indicator was required to reflect India’s rise as a global power, this would be one of the keys. The ever-rising share market means the fact that its economy is mobile and active. Plus, it’s attracting foreign investors which further propels the country’s socioeconomic aspects.

India saw its total market cap increase by 26% in 2023 amounting to $4.2 trillion. The country brought in $900 billion in market cap in 2023 which is the combined market cap of countries such as Brazil, Sweden, and the Netherlands.

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Largest stock market countries in the world

The US leads the global market cap with a 45.6% share. China follows next with an 8.6% share. Japan and Hong Kong rest at third and fourth with 5.6% and 4.3% market.

IPOs and capital appreciation have greatly assisted India’s share market boom.

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By November, 58 companies in India raked in 52,016 crore from the primary market (through Initial Public Offerings also known as IPO) which added $50 billion to the market cap. Bloomberg reported that India’s IPOs and follow-on share-selling transactions surpassed Hong Kong’s for the first time in 30 years.

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