The Indian stock market is again the fifth largest in the world, pushing France to sixth place

- Market cap crosses $3.31 lakh crore

- Foreign funds poured $5.7 billion into the Indian market in two months following economic reforms in India

AHMEDABAD: Since the beginning of May in India, the Sun God has been showering fury. However, at the end of May, there is a sudden change in the weather, now a monsoon atmosphere has been created with cold winds, as well as the bullish wind is blowing in the Indian stock market. The Indian market has once again achieved the crown of the world's fifth largest market, with the stock market booming due to local and global factors.

The market has been under current due to foreign investor bias in the last 15 days and the recent bounce in Adani Group and Reliance shares has boosted investor confidence and wealth. The market capitalization of the Indian market has touched 3.31 lakh crore dollars today. France, on the other hand, saw a loss of $100 billion in its market last week. India has again reached the fifth position in the top 10 markets of the world. India lost this position to France in January. In fact, the French stock market has suffered a lot due to the slowdown in China and America. Meanwhile, France's top companies Louis Vuitton and Vivendi SE had to sell their shares.

China's slower growth has benefited India's improving economic recovery. Meanwhile, foreign companies have started shifting their investment to India. Foreign funds have poured nearly $5.7 billion into the Indian stock market since April. Foreign investors are excited to invest in India given its income stability and high GDP growth.

After a temporary dip in mid-March, the S&P BSE Sensex index rallied over 10 percent, while the BSE Banks rose 13 percent and the BSE Midcap and Smallcaps rallied around 15 percent. Since the beginning of this year, the market cap of the Indian equity market has increased by 330 billion dollars. Adani Group shares also fell after a court-appointed panel found no evidence to support a report by US short-seller Hindenburg Research, sending Adani and banking shares into a tailspin.

America tops the list of the world's top markets with a market cap of $44.54 trillion. Then China is in the second place with a market cap of 10.26 trillion dollars and Japan is in the third place with a market cap of 5.68 trillion dollars. Hong Kong is at the fourth position with a market cap of $5.14 trillion followed by France at the sixth position with a market cap of $3.24 trillion.