New Economy Forum
India’s Stock Market on Track to Overtake U.K.’s in Value
- India’s market cap is less than 4% away from matching the U.K.
- IPOs, growth rate have boosted India as Brexit weighs on U.K.
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India’s equity market is on the cusp of overtaking that of the U.K. in value to join the world’s top-five club, at least by one measure. The likely feat comes as record-low interest rates and a retail-investing boom propel stocks in the former British colony to record highs.
India’s market capitalization has surged 37% this year to $3.46 trillion, according to an index compiled by Bloomberg, representing the combined value of companies with a primary listing there. That’s closing in on the U.K., which has seen an increase of about 9% to $3.59 trillion, though the number is much larger if secondary listings and depositary receipts are included.