India emerged as the best-performing major market globally in 2017. The market capitalisation (m-cap) of all domestically listed firms has risen 30% (in dollar terms) so far this year. Second-biggest growth in m-cap has been reported by France at 20.7%.
India, ninth in global m-cap rankings, is closing gap with Canada and Germany. Germany ranked seventh, while Canada came eighth. At $2.02 trillion, India’s m-cap is just 4.2% less than Canada’s ($2.11 trillion) and 7.5% less than Germany ($2.19 trillion).
According to analysts, factors such as new listings, a 5% appreciation in the rupee against the dollar and a broad-based rally, with even small- and mid-cap indices scaling record highs, have led to a rise in India’s market value.