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<ul class="summary-list"><li>India's stock market overtook Hong Kong's to become the fourth largest in the world.</li><li>The total value of shares in India equaled $4.33 trillion at Monday's close, over Hong Kong's $4.29 trillion.</li></ul>India's stock market is booming, and its value has ballooned so much that it overtook Hong Kong's on Monday, Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-01-23/india-overtakes-hong-kong-as-world-s-fourth-largest-stock-market?srnd=markets-vp">reported</a>.The total value of shares on Indian exchanges hit $4.33 trillion at Monday's close, compared to Hong Kong's $4.29 trillion, according to data compiled by Bloomberg, making it the fourth largest stock market in the world. India <a href="https://www.businessinsider.com/india-stock-market-catching-up-hong-kong-2023-12">passed the $4 trillion mark</a> on December 5, with half of that value built up in just the past four years.The stock market has been galvanized by a growing number of retail investors and strong corporate earnings.Meanwhile, the country's population overtook China's last year, and it has been <a href="https://www.businessinsider.com/india-business-market-entry-barriers-tariffs-supply-chain-china-2023-6">gearing itself up</a> for boom-time economic growth and a flood of foreign investment.Overseas funds poured over $21 billion into Indian stocks last year, and the S&amp;P BSE Sensex, a benchmark index tracking Indian stocks, notched an eighth consecutive year of gains.What has also helped close the gap between the two stock markets is a slumping Chinese economy and property crash, which have prompted foreign investors to shift money elsewhere.Together, mainland Chinese and Hong Kong equities have <a href="https://markets.businessinsider.com/news/stocks/china-markets-mainland-hong-kong-stocks-losses-economy-woes-2024-1">lost a total of $6.3 trillion in market value since 2021</a>. The <a href="https://www.cnbc.com/quotes/.HSI">Hang Seng Index</a>, a benchmark index for Hong Kong stocks, has tanked around 30% in the past year, though it rose slightly on Tuesday on reports that Chinese policymakers are considering a $278 billion stimulus package.

India's stock market overtakes Hong Kong's as the 4th largest in the world

<ul><li>Indian stock market hit new highs today led by a rise in <keyword id="11782097" type="UNKNOWN" weightage="20" keywordseo="shares-of-banks">shares of banks</keyword>, FMCG and IT stocks.</li><li><keyword id="6354813" type="UNKNOWN" weightage="20" keywordseo="Nifty">Nifty</keyword> 50 closed above historic high 16,000 points and Sensex closed above 53,500 points.</li><li>Analysts believe strong performance by stocks like HDFC, IT stocks, SBI, which are heavyweights on Nifty 50 led the rally.</li></ul>What is common between Titan, HDFC IndusInd Bank, Nestle India and Ultratech Cement? These are the top five gainers on the Nifty50, the benchmark index, that closed at a record level, above at 16,000, which had seemed to be a barrier even for the bulls in the market in recent months. That a varied set of stocks, from a watch maker to a mortgage lender, a bank to a company that is known for its noodles and sauces, as well a cement maker fill up the top five positions on the bourses on a given day ⁠— it only tells us that the euphoria is widespread and not tied to a specific theme. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty 50 - Top gainers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gains on Aug 3 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Titan </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.99% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.78% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Indusind Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.49% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nestle India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.29% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UltraTech Cement </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.71% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">State Banks of India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.55% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindustan Unilever </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.39% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">AxisBank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.34% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bharti Airtel </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.34% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.29% </td></tr></tbody></table> The Indian stock markets seem to be taking comfort over the improved economic conditions, better corporate earnings and rising consumer demand in certain sections of the society. Nifty 50 closed above historic high 16,000 points and Sensex closed above 53,500 points. These are some of the facts that led to this spectacular rally in the Indian stock market: <ul><li>Shares of Nifty 50 heavyweight HDFC surged nearly 4%, a day after its earnings, because the amount of defaults was <a href="https://www.businessinsider.in/finance/banks/news/bad-loans-increasing-in-pnb-hdfc-rbl-kotak-mahindra-bandhan-and-federal-banks-bank-other/slidelist/84996023.cms">much less </a>than what the market had feared. </li><li>Gross GST (goods and services tax) collection jumped 33% in July at ₹1,16,393 crore.</li><li>31 Nifty 50 companies, that have posted results so far, have shown 70% on year earnings growth against expected 64%, according to Motilal Oswal Financial Services <a href="https://www.moneycontrol.com/news/business/fastag-toll-collections-rise-to-nearly-pre-covid-19-second-wave-levels-in-july-comes-in-at-rs-2976-crore-7269031.html">report</a>. </li><li>India’s fiscal deficit narrowed to an 8-year low of ₹2.7 lakh crore in June quarter, helped by a rebound in revenues and lower spending.</li><li>The country recorded its highest ever monthly exports worth $35.2 billion in July 2021, an increase of 47.91% from July 2020.</li><li>Meanwhile, several states have been easing covid-19 restrictions as the numbers of covid cases on the national level has slowed down.</li></ul>SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/infra-market-raises-another-125-million-to-expand-its-construction-material-portfolio/articleshow/85002478.cms">E-commerce platform for construction material Infra.Market raises $125 million from Tiger Global investment </a><a href="https://www.businessinsider.in/business/startups/news/infra-market-raises-another-125-million-to-expand-its-construction-material-portfolio/articleshow/85002478.cms"></a> <a href="https://www.businessinsider.in/business/telecom/news/as-vodafone-idea-shares-dive-10-and-more-heres-a-look-at-what-analysts-had-to-say-about-it-prospect-in-recent-weeks/articleshow/84999673.cms">As Vodafone Idea shares dive 10% and more, here's a look at what analysts had to say about it prospect in recent week</a><a href="https://www.businessinsider.in/business/telecom/news/as-vodafone-idea-shares-dive-10-and-more-heres-a-look-at-what-analysts-had-to-say-about-it-prospect-in-recent-weeks/articleshow/84999673.cms"></a><a href="https://www.businessinsider.in/business/telecom/news/as-vodafone-idea-shares-dive-10-and-more-heres-a-look-at-what-analysts-had-to-say-about-it-prospect-in-recent-weeks/articleshow/84999673.cms"></a><a href="https://www.businessinsider.in/business/telecom/news/as-vodafone-idea-shares-dive-10-and-more-heres-a-look-at-what-analysts-had-to-say-about-it-prospect-in-recent-weeks/articleshow/84999673.cms"></a><a href="https://www.businessinsider.in/business/telecom/news/as-vodafone-idea-shares-dive-10-and-more-heres-a-look-at-what-analysts-had-to-say-about-it-prospect-in-recent-weeks/articleshow/84999673.cms"></a><a href="https://www.businessinsider.in/business/telecom/news/as-vodafone-idea-shares-dive-10-and-more-heres-a-look-at-what-analysts-had-to-say-about-it-prospect-in-recent-weeks/articleshow/84999673.cms"></a><a href="https://www.businessinsider.in/business/telecom/news/as-vodafone-idea-shares-dive-10-and-more-heres-a-look-at-what-analysts-had-to-say-about-it-prospect-in-recent-weeks/articleshow/84999673.cms"></a><a href="https://www.businessinsider.in/business/telecom/news/as-vodafone-idea-shares-dive-10-and-more-heres-a-look-at-what-analysts-had-to-say-about-it-prospect-in-recent-weeks/articleshow/84999673.cms"></a><a href="https://www.businessinsider.in/business/telecom/news/as-vodafone-idea-shares-dive-10-and-more-heres-a-look-at-what-analysts-had-to-say-about-it-prospect-in-recent-weeks/articleshow/84999673.cms"></a><a href="https://www.businessinsider.in/business/telecom/news/as-vodafone-idea-shares-dive-10-and-more-heres-a-look-at-what-analysts-had-to-say-about-it-prospect-in-recent-weeks/articleshow/84999673.cms"> </a><a href="https://www.businessinsider.in/business/telecom/news/as-vodafone-idea-shares-dive-10-and-more-heres-a-look-at-what-analysts-had-to-say-about-it-prospect-in-recent-weeks/articleshow/84999673.cms"></a><a href="https://www.businessinsider.in/business/telecom/news/as-vodafone-idea-shares-dive-10-and-more-heres-a-look-at-what-analysts-had-to-say-about-it-prospect-in-recent-weeks/articleshow/84999673.cms"></a><a href="https://www.businessinsider.in/business/telecom/news/as-vodafone-idea-shares-dive-10-and-more-heres-a-look-at-what-analysts-had-to-say-about-it-prospect-in-recent-weeks/articleshow/84999673.cms"></a><a 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Here’s why Nifty broke the 16,000 barrier ⁠— Titan, HDFC, Nestle and Ultratech tell the story of the euphoria in the Indian stock market

The BSE <keyword id="6484188" type="DEFINITION" weightage="20" keywordseo="sensex">Sensex</keyword> and <keyword id="6354813" type="UNKNOWN" weightage="20" keywordseo="Nifty">Nifty</keyword> 50 recovered only slightly on Tuesday Morning after the previous day’s stock markets plunge. As of 9:40 am, BSE Sensex was up 0.15% or nearly 50 points at 37,970.72; Nifty was up 0.14% at 11,453. 90. Both the Sensex and Nifty had opened in green in early morning trade with the Sensex trading at 38,041 points and up 119 points in early morning trade before falling further to trade flat. On Monday, India’s stock markets had plunged more more than 1% amid escalating <keyword id="182860" type="PERSON" weightage="20" keywordseo="trade-war">trade war</keyword> concerns between the US and China and fears of weakening <keyword id="6355302" type="UNKNOWN" weightage="20" keywordseo="Rupee">rupee</keyword> and India’s widening current account deficit gap. The 30-share BSE Sensex had closed at 37,922.17, down by 467.65 points or 1.22 per cent, its largest fall since mid-March. The Nifty had closed at 11, 438.10 points, its lowest level close in four weeks. Spillover effect India’s widening current account deficit and the depreciating rupee were factors behind Monday’s market meltdown. According to RBI data released on Friday, the country’s CAD had widened to $15.8 billion compared to $15 billion in the year-ago quarter. The Indian rupee meanwhile touched al all-time low of ₹72.67 against the dollar, becoming the the worst performing emerging markets currency in Asia. The rupee has depreciated nearly 13% since the beginning of the year. In a double whammy for the <keyword id="6354298" type="DEFINITION" weightage="20" keywordseo="Stocks">stocks</keyword>, ratings agency Moody's Investors Service warned that the continuing decline in Rupee would be a credit negative event for Indian companies that generate sales in rupees but rely on US dollar debt to fund operations. An escalating <a href="https://www.bbc.com/news/business-45451809">trade war</a> between the US and China continues to weigh down on Asian stocks. On Friday, US President Donald Trump warned the country could move “very soon” to bring another round of tariffs on Chinese imports, which would bring tariffs on all of Chinese imports into the US, intensifying the trade war between the two countries. According to reports, China has also <a href="http://www.ptinews.com/news/10028403_Sensex--Nifty-slide-to-3-wk-low-as-trade-war-fears-grip-global-equities.html">warned</a> of retaliation should the US pursue these harsh measures.

India's stock markets recover slightly after plunging on Monday

<ul class="summary-list"><li>India's stock market is poised to more than double in value to $10 trillion by 2030, Jefferies says.</li><li>Jefferies analysts also predicted the Indian economy would surpass Japan's and Germany's by 2027.</li></ul>India's stock market is poised to skyrocket, more than doubling in value to $10 trillion by 2030, thanks to the country's surging economy and persistent reforms, analysts at Jefferies wrote in a note published Thursday.With a value of $4.3 trillion, India's equity market is the world's fifth-largest, and Indian stocks have managed to consistently yield 10% annual returns over a 20-year period.Even after that run of stunning equity returns, the Jefferies analysts said investors in the country's stock market could still expect returns of 8% to 10% in the next five to seven years."Assuming market returns in line with the last 15-20 year history and new listings, India will become nearly a U$10trn market by 2030 - impossible for large global investors to ignore," the analysts wrote.India <a href="https://www.businessinsider.com/india-china-economy-emerging-stock-markets-xi-jinping-narendra-modi-2024-2">has emerged as a hot spot</a> for global capital inflows in recent years, especially as its longtime rival China struggles to keep investors from fleeing economic turmoil in the country.China's flailing economy, its <a href="https://markets.businessinsider.com/news/stocks/china-stock-market-crash-rescue-plan-ban-selling-support-measures-2024-2?_gl=1*nyfnkq*_ga*MTIzMDA5Njk4OS4xNzA3ODc2NDgz*_ga_E21CV80ZCZ*MTcwODYyMTgxMC4yNi4xLjE3MDg2MjIzMjQuNTMuMC4w">cratering stock market</a>, and a never-ending property crisis have driven foreign investors to shift their focus to India, helping push the country's stock market 31% higher last year.Meanwhile, India's financial-system reforms, favorable geopolitical dynamics, a growing entrepreneurial landscape, and the country's emphasis on services exports are all boosting its prospects for strong growth and stock-market returns. India's gross domestic product has seen a 7% compound annual growth rate in the past decade."Over the next 4 years, India's GDP will likely touch US$5trn making it the 3rd largest economy by 2027, overtaking Japan and Germany, being the fastest growing large economy with the tailwinds of demographics (consistent labor supply), improving institutional strength and improvement in Governance," the note said.Correction: February 23, 2024 — An earlier version of this story misstated the year by which Jefferies analysts expect the Indian stock market to reach $10 trillion in value. It's 2030, not 2023.

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India's stock market overtakes Hong Kong's as the 4th largest in the world

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Here’s why Nifty broke the 16,000 barrier ⁠— Titan, HDFC, Nestle and Ultratech tell the story of the euphoria in the Indian stock market

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India's stock markets recover slightly after plunging on Monday

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India's stock market will soar to $10 trillion by 2030 and the country's growth is impossible for investors to ignore, Jefferies says

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