look news india
Ahmedabad, Mumbai: The slowdown in the Indian stock market continues even after the election results. Even though the ruling party BJP and the NDA government have suffered a setback in the voting, counting and results of the Lok Sabha elections, the bullish horse in the Indian market remains in the win. Despite huge uncertainty, Dalal Street has been setting new historical records week after week for the last two-three months. The market cap of Indian equities, ranked fifth globally in terms of market cap, grew by 13.80 percent in the June quarter, which was the highest increase among the top ten markets in the world. India's market cap has increased by more than one trillion dollars in the last six months. After a continuous rise, the major indices are also at an all-time high at this time.
The total market cap of India's equity market is currently $5.03 trillion. The June quarter was the fifth consecutive quarter in which the market cap increased. India's market cap grew 26.17 per cent in 2023. The rise in market cap has been supported by the massive participation of retail investors. Due to macroeconomic fundamentals, global investors are also finding attraction in Indian equities.
Not only has the valuation of stocks increased due to the strength in the balance sheets of companies and banks, but the Indian rupee has also remained strong against the dollar in Asian countries. The budget to be presented by the new government next month is also expected to be positive.
Talking about the June quarter, India has been at the forefront of the world in terms of market cap growth in dollar terms in this quarter. The market cap of Indian companies has increased by 13.8 percent in the June quarter. This growth was the highest among the countries with the highest market cap in the world.
The market value of the Indian stock market is currently $5.03 trillion i.e. Rs. 419.78 lakh crore. If we compare it with the world's largest equity market America, the market value of the American market has increased by 2.75 percent in the June quarter and the capital is currently $56.84 trillion (Rs. 4743.52 lakh crore).
Talking about China, the world's second largest equity market, its market cap has fallen by 5.6 percent to $8.6 trillion in the June quarter. The surprising thing is that China's market cap has declined for the fifth consecutive quarter. Japan's market cap also fell by 6.24 percent to $6.31 trillion in the June quarter. Hong Kong's market cap, which has a market capital of $5.15 trillion, has increased by 7.3 percent during this period. The market cap of the United Kingdom increased by 3.3 percent while France's market cap decreased by 7.63 percent, Canada's market cap decreased by 2.7 percent and Saudi Arabia's market cap decreased by 8.7 percent. After India, Taiwan's market cap has increased the most by 11 percent.
Last year, due to rapid investment by domestic and foreign investors, India's market cap increased by 26.17 percent in 2023. Now there has been an increase of 13.8 percent in the June quarter. According to experts, the Indian market is getting support from macroeconomic conditions. Banks have resolved the problem of bad loans and corporates are continuously reducing their debt. Apart from this, the better performance of the rupee against the currencies of other developing countries also strengthened investor sentiment. In the coming time, the market is expected to get support from the budget and good monsoon.
Reliance is the first company in the country to achieve a market cap of Rs. 21 lakh crore
Reliance Industries share price reached a high of Rs 3161.45 intraday on BSE, taking the company's market cap beyond Rs 21 lakh crore. Reliance Industries has become the first company in the country to achieve a market cap of more than Rs 21 lakh crore. Reliance Jio Infocomm announced new tariffs from July 3. Reliance shares rose. At today's closing price of Rs 3131.85, the market cap of Reliance Industries was Rs 2119016 crore.