Adani collapses, Britain overtakes India to become sixth largest equity market for first time in 9 months

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- The UK market remained attractive to investors due to the weakening of the pound

New delhi date. 23 February 2023, Thursday

The Indian stock market has been falling for the last few days. The market closed lower for the fourth consecutive session on Wednesday. It has affected the Indian equity market. The UK has now overtaken India to become the sixth largest equity market in the world. For the first time in nine months, Britain has beaten India in this matter. The combined market cap of UK primary listings reached $3.11 trillion on Tuesday, $5.1 billion more than India's. For the first time since May 29, the UK equity market has outperformed India. The UK market has been an attraction for investors due to the weakening of the pound. On the other hand, the Indian stock market has seen a decline recently. The BSE Sensex fell by over 900 points today. Investors have been washed away Rs.7 lakh crore by the decline of the last four days.

The Sensex has lost more than 1,500 points in the last four days. On Wednesday, the market cap of BSE listed companies was Rs. 3.9 lakh crore reduced to Rs. 261.3 lakh crore has happened. The MSCI India index has fallen 6.1 percent this year. Since January 24, Adani Group's shares have fallen sharply. Due to which the market cap of the group has decreased by 142 billion dollars. The BSE index also fell 10 percent from its December 1 peak. Experts say that the Adani Group is in the headlines for negative reasons due to which international investors are worried and may become selective about India. But this apprehension may be limited only to the Adani Group. Foreign investors can stay in other stocks in India.

Lait Khalaf, Head of Investments at AJ Bell, said that the UK stock market in particular is spoiling investors. Small and mid-cap companies in particular have given good returns to investors. The UK's FTSE 350 index is up 5.9 percent this year. The blue chip FTSE 100 broke the 8,000 mark for the first time last week. The fall in the value of the pound has also made the UK stock market an attraction for investors.


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