India is back among world’s top five equity markets after it was briefly dislodged by France during a selloff of Adani Group shares. Data compiled by Bloomberg which indicated the combined value of companies with a primary listing in each countries showed that India’s market capitalization stood at $3.15 trillion, which was above the market capitalization of France.
India reclaims fifth place among world’s top equity markets
This has been a positive news for Indian Equity markets, and helps in reviving their appeal. For the last two years Indian Equity Markets have outperformed most of their global peers.
Despite the positive news for the Indian Equity market revealed by Bloomberg, the total value of India’s market was about 6% lower than January 24 , the day before the selloff in Adani stocks began. However , recent steps taken by group to restore investor confidence have helped its shares reclaim some value, still they have remained $120 billion lower than before the free fall in Adani shares.
Foreign investors again repose confidence
Foreign investors were net purchasers during two of the seven sessions this month through February 9 after withdrawing money from Indian shares since November. The acquisitions were in line with the government’s aim to raise capital spending announced at the beginning of February, while the central bank last week hinted at a slower pace of interest rate hikes.
Analysts predict that profits per share for MSCI India businesses will rise 14.5% this year as the most recent reporting season progresses. According to statistics gathered by Bloomberg Intelligence, that is better than most major markets and in line with projections for China. In contrast, it is anticipated that US companies’ EPS will increase by 0.8%, while comparable figures for European companies are forecast to remain nearly unchanged.
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