India Tops Global Stock Market Performance with 25% Return in 2024
Mumbai: India has emerged as the top performer among the world’s leading stock markets, delivering a remarkable 25% return in market capitalization since the beginning of 2024. This stellar performance has propelled the total market capitalization of the Bombay Stock Exchange (BSE) to Rs 462 lakh crore (over $5.5 trillion) as of Wednesday.
In comparison with other major stock markets, India’s growth stands out significantly:
- United States: Market cap of $57.28 trillion with a 13.50% return
- China: Market cap of $8.24 trillion with a -13.61% return
- Japan: Market cap of $6.49 trillion with a 4.02% return
- India: Market cap of $5.51 trillion with a 25% return
- Hong Kong: Market cap of $4.92 trillion with a 4.15% return
India’s stock market has experienced a meteoric rise in recent years. The market capitalization first crossed the $1 trillion mark on May 28, 2007. It reached $2 trillion by July 10, 2017, $3 trillion by May 24, 2021, and $4 trillion by November 30, 2023. Remarkably, within just six months, it surged past $5 trillion on May 24, 2024.
This extraordinary growth is attributed to the robust performance of the Indian economy. In the financial year 2023-24, India’s GDP grew by 8.2%. The Economic Survey forecasts a growth rate of 7% for the financial year 2024-25, reflecting continued economic strength.
India’s impressive stock market performance highlights its position as a major global financial player and underscores the country’s economic resilience and growth potential.
