India’s ranking has improved two notches in the league table of the world’s biggest stock markets.
Currently, India ranks seventh with a market cap of $2.1 trillion.
At the end of 2017, India was at the ninth position despite its market cap being $2.4 trillion. The domestic market has seen an erosion of $308 billion in investor wealth this year.
While the Sensex is up 5 per cent on a year-to-date basis, a near 10 per cent depreciation in the rupee against the dollar and a correction in the broader market have led to the drop.
However, Germany and Canada have seen a sharper 18 per cent decline and currently rank below India. All the countries in the top 10 have seen a decline in market value.