India's stock market has surpassed that of Hong Kong for the first time, to become the fourth-largest equity market globally. According to data compiled by Bloomberg, the combined value of shares listed on Indian exchanges reached 4.33 trillion Dollars, versus 4.29 trillion Dollars for Hong Kong.
The report said that India has positioned itself as an alternative to China, attracting fresh capital from global investors and companies alike, thanks to its stable political setup and a consumption-driven economy that remains among the fastest-growing of major nations.
India's stock market capitalization had crossed 4 trillion Dollars for the first time on December 5, with about half of that coming in the past four years.