Udabur Stock：India overtakes Hong Kong as world’s fourth-largest stock market

India’s stock market has pipped Hong Kong for the first timeUdabur Stock. The combined value of shares listed on Indian exchanges hit $4.33 trillion as of Monday’s close, against $4.29 trillion for Hong Kong, according to data compiled by Bloomberg, making India the fourth-biggest equity market globally.Pune Investment

Its stock market capitalization crossed $4 trillion for the first time on December 5, with about half of that coming in the past four years.Indore Investment

“India has all the right ingredients in place to set the growth momentum further,” Ashish Gupta, chief investment officer at Axis Mutual Fund in Mumbai, told Bloomberg.

Hong Kong’s slump is also due to an eroding China appeal. Some of China’s most influential and innovative firms are listed in Hong Kong. Beijing’s stringent anti-Covid-19 curbs, regulatory crackdowns on corporations, a property-sector crisis and geopolitical tensions with the West have hit Chinese stocks hard.

The total market value of Chinese and Hong Kong stocks have tumbled by more than $6 trillion since their peaks in 2021. New listings have dried up in Hong Kong, with the Asian financial hub losing its status as one of the world’s busiest venues for initial public offerings.

Overseas funds poured more than $21 billion into Indian shares in 2023, helping the country’s benchmark S&P BSE Sensex Index cap an eighth consecutive year of gains.Mumbai Stock Exchange

Bangalore Stock Exchange