Home / Business and Economy / India Reclaims Top 5 Global Market Cap
India Reclaims Top 5 Global Market Cap
30 Jun
Summary
- India's market capitalization surpassed Taiwan's $4.97 trillion.
- India reclaimed fifth place after a previous rise past South Korea.
- Taiwan's AI-driven rally cooled, impacting its market value.
India has regained its position as the fifth-largest global stock market by capitalisation, with its value reaching $5.04 trillion as of Wednesday. This places India ahead of Taiwan, whose market capitalisation now stands at $4.97 trillion. This is the second time in recent weeks that India has ascended in the rankings, having previously overtaken South Korea to reclaim sixth place in mid-June.
This shift in fortunes is attributed to a cooling of Taiwan's artificial intelligence-driven rally. Investors are now recalibrating their outlooks on stretched valuations and the long-term viability of AI-related spending. These concerns have particularly affected semiconductor-heavy markets like Taiwan's. Previously, a strong demand for North Asian AI-linked stocks had propelled markets like Taiwan's past India. At that time, India had lagged due to foreign portfolio investors reducing their exposure.
