Mcap of Indian equities close to touching $4 trillion mark

Mumbai: India's economy may not have reached the five trillion dollar mark, but the market cap of the country's equity market is close to touching the $4 trillion mark. The market caps of each of the stocks listed on the BSE are currently close to Rs 329 lakh crore, which equates to approximately $3.95 trillion at a rate of 83.30 to the dollar.

To bring the market cap of Indian equities to $4 trillion, an addition of Rs 5 lakh crore is needed in the value of equities, said a research report.

It remains to be seen when this level will be achieved as the Indian stock market is currently in a stable position. Nifty50 has gained 9 percent so far in the current year.

The country's market cap has increased by Rs 46 lakh crore in 2023. As a result of the good performance of small and midcap stocks, the market cap has risen, the report has noted.

In May 2021, India achieved a market cap of 3 trillion dollars. India currently ranks fifth in terms of market cap globally. American equities are in first place with $47 trillion. The market cap of Chinese equities is $9.70 trillion. Japan 5.90 trillion dollars while Hong Kong's market cap is 4.80 trillion dollars.

In terms of Gross Domestic Product, India is currently at the fifth position with $3.70 trillion. The target is to make India a 7 trillion dollar economy by 2030. The US is at the top with 45 percent of the global market cap, while India's share is less than four percent.