New Delhi, June 15 (IANS) As Indian stock markets continue to touch fresh new highs almost every day post the formation of the new government, they are also breaking global benchmarks.
In a new feat, India has reclaimed the fourth-biggest global equity market tag from Hong Kong.
The country’s market capitalisation soared 10 per cent to reach $5.2 trillion (BSE-listed companies).
In comparison, Hong Kong’s equity market cap is $5.17 trillion, down 5.4 per cent from the high of $5.47 trillion this year.
On a price-to-book basis, India trades at 3 times, while Hong Kong is at just one time.
This comes as the Indian stock market has seen a significant rally in recent months and is now attracting global funds which are going to accelerate in the near future.
The National Stock Exchange (NSE) benchmark Nifty surged nearly 6 per cent in the last month and 11.84 per cent in the last six months.
According to market analysts, Nifty is expected to reach 25,816 in the next 12 months.
The Prabhudas Lilladher experts anticipate that the BJP-led NDA government will sustain its focus on capital expenditure-driven growth, particularly in sectors such as production-linked incentives (PLI), infrastructure development, including roads, ports, aviation, defence, railways, and green energy.
This expectation is supported by a 20 bps reduction in the fiscal deficit for FY24, normal monsoon forecasts, and an anticipated dividend of Rs 2.1 trillion from the RBI.
The analysts expect the NDA government to increase focus on farmers, rural, urban poor and middle class to arrest the impact of new social engineering-cum-freebies led reversal in certain states in recent elections
Meanwhile, the stock markets have emerged as a favourite investment destination for retail investors.
According to experts, the major driving forces in this bull market are the Indian retail investors, including HNIs, and big selling by the FIIs is getting eclipsed by the aggressive buying of DIIs and retail investors.
–IANS
na/uk
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by BhaskarLive.in and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of BhaskarLive.in We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, BhaskarLive.in takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
