India pips Germany into $3-trillion market capitalisation club
In December last year, India climbed two notches to take the eighth spot among the world’s top stock markets
India has piped European powerhouse Germany into the $3-trillion market capitalisation club. The Indian domestic market on Monday joined the UK, France and Canada in the $3-trillion m-cap club.
The development comes even as the country is battling the second wave of Covid-19 pandemic signaling the strong economic preparation of the country.
According to a Business Standard report, India currently ranks eighth on the table of most-valued equity markets, ahead of Germany which has a market cap of $2.8 trillion.
In the past, Germany and India had tussled for the eight positions. Given the outperformance in European equities, Germany too could join the club soon. The DAX, a gauge for the performance of the largest companies listed on the Frankfurt stock exchange, is up 13% this year outperforming the Sensex which is up 6%.
Earlier, in December last year, India climbed two notches to take the eighth spot among the world’s top stock markets as the country crossed the $2.5 trillion market capitalization mark for the first time.