BUSINESS

Indian stock market surges 25% this year

By Rishabh Raj

1

India's market cap surge

India's market capitalization soared 24.8% to $4.16 trillion in 2023 so far, maintaining its fifth position globally. 

2

India beats global markets

Indian stock market has outperformed the top 10 global markets this year, thanks to strong macroeconomic fundamentals and investments from both foreign and domestic institutions. 

3

US, China market positions

The US market leads with a $50.35 trillion valuation, while China's market cap dropped 8.81% to $10.57 trillion. 

4

Asian market's growth

Japan's market cap rose by 11.6% to $6.09 trillion, while Hong Kong experienced a decline of about 12.6%, dropping to $4.56 trillion. 

5

European market's growth

In Europe, France's market cap surged 13.77% to $3.27 trillion, and the UK market expanded by 5.3% to $3.07 trillion. 

6

India's GDP growth projection

In H1 FY24, India logged a 7.7% of GDP growth. This led the RBI to revise its FY24 GDP forecast to 7%. For FY25, the RBI predicts an average growth of 6.5% in the first three quarters. 

7

Nifty EPS predictions

Analysts predict a Nifty EPS average growth rate of around 20% for FY23-25, potentially leading to further market re-rating. 

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