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World’s Top-5 Share Market List: Till a few days ago, India had the top-5 economy country in the world and top-5 strong stock market stock exchange ranking, out of which the stock market was breached by France for a few days. In simple language, the stock exchange of France had become stronger than that of India, but this title could not remain with it for long. Time passed, circumstances changed and the game was back in India’s court. That is, India again defeated France and regained the top-5 ranking. Let’s know why this happened? And how did it change?
The trouble came due to the sale of Adani’s shares.
This ranking was captured by France for a short time during the selloff of Adani Group’s shares, which India regained with the rise in Adani Group’s shares. India’s market capitalization stood at $3.15 trillion on Friday, retaining seventh place with the UK, according to Bloomberg data, which reflects the combined value of primary listed companies in each country. The overall value of India’s market was down about 6% compared to January 24, the day before the sell-off in Adani’s shares began. While steps taken by the group to restore investor confidence have helped its shares regain some value, they remain $120 billion lower than before.
The game started in November
Foreign investors were net buyers during two of the seven sessions till February 9 this month after pulling out funds from Indian equities since November. The purchases followed the government’s plan in early February to increase capital spending, while the central bank signaled the same last week. As the latest quarterly reporting season approaches, analysts expect earnings per share among MSCI India companies to rise 14.5% this year. This is in line with expectations for China and better than most major markets. In contrast US firms’ EPS will likely increase by 0.8%, while readings for European counterparts are expected to be roughly flat.
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