India surpasses Hong Kong to become fourth-largest stock market

The Indian stock market has pipped Hong Kong to become the fourth-highest equity market globally.

The combined value of shares listed on Indian exchanges reached USD 4.33 trillion as of Monday’s close versus USD 4.29 trillion for Hong Kong. India’s stock market capitalization crossed USD 4 trillion for the first time on December 5, 2023, with about half of that reportedly coming in the past four years. The top three stock markets are the US, China, and Japan.