India regains $2-trillion market capitalisation
Published On: Friday, August 14, 2020 | By: Team KnowMyStock
As shares in the broader market joined the party the Indian market has once again topped the $2-trillion market capitalisation (m-cap) threshold. The country’s m-cap slipped below the psychological level in March ahead of the sharp sell-off triggered by the pandemic. During the depth of the correction, the combined m-cap of all listed stocks had slipped to multi-year lows of $1.3 trillion on March 23. Since then, India has added nearly $700 billion in market value thanks to the liquidity-fueled global rally. At its peak, India’s m-cap stood at $2.22 billion at the start of the year, when the benchmark Sensex and the Nifty indices hit all-time highs.
World m-cap has seen a sharper rebound than India. The combined global m-cap, which had dropped to $61.6 trillion at the end of March, now stands at $88 trillion, only 1.2 per cent shy of a new record. India, meanwhile, is still about 10 per cent below its peak m-cap. The jump in world m-cap has been led by gains in the US and China. Big technology stocks (Facebook, Amazon, Apple, Netflix and Alphabet’s Google) have been at the forefront of this.
At present, on a year-to-date basis, China is up 29 per cent with m-cap of $9.4 trillion, while the US commands m-cap of $36 trillion, or about 40 per cent of world m-cap.
Tags: market capitalisation
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