India’s is bigger than Hong Kong’s

15 Dec, 20231 min read
India’s is bigger than Hong Kong’s

In a nutshell

🙌 India overtakes Hong Kong to become the world's 4th largest stock market.

📈 US Fed keeps rates steady at 22-year high-mark. 

🥶 IPO of Inox India (cryogenic equipment company) opened for subscription at a price band of ₹627-660 per share.

🔻 6 out of 10 Adani stocks were trading in the red on Wednesday.

The big story: India’s is bigger than Hong Kong’s

We’re just talking about the stock market 🤐

In a significant milestone, India has flexed its economic might on the global stage, officially overtaking Hong Kong to become the world's 4th largest stock market. 

Here are the top 5 global markets ranked:

  • USA: $44,719,661 mil
  • China: $10,693,460 mil
  • Japan: $5,474,985 mil.
  • India: $4,260,000 mil.
  • Hong Kong: $3,923,954 mil.

Here are some reasons why India's markets are getting popular:

◾ The Nifty 50 index soared by 16% this year marking its 8th consecutive year of gains. Hong Kong's Hang Seng index on the other hand plummeted by 17% in 2023.

◾ Increased liquidity, a surge in domestic participation, a decline in US treasury yields and thriving sectors like autos, retailers, and real estate have all contributed to investor optimism. 

◾ Analysts at JPMorgan, Morgan Stanley & few others have all upgraded India's rating to "overweight", indicating strong confidence in her future.

Our Expert's Opinion: Indian equities have been amongst the best-performing asset classes globally over the past 1, 3 and 10-year periods (in dollar terms), beating expectations by a wide margin. The sustained outperformance is likely to continue given the backdrop of strong GDP growth, controlled inflation, strong corporate balance sheets and improving earnings trajectory of Indian Corporates. The recent 3 state election wins for the ruling political party have dramatically improved its chances of getting reelected in the upcoming 2024 general elections which is an added tailwind against a favourable macro environment. 

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