The National Stock Exchange (NSE) of India has crossed the USD 5 trillion market capitalization mark, signaling a new era of prosperity in the country’s financial landscape. This milestone, reached on May 23, 2024, coincided with the Nifty 50 Index hitting an unprecedented high of 22,993.60, underscoring the broad-based growth driving the market.
The journey to this historic feat has been nothing short of remarkable. From USD 2 trillion in July 2017 to USD 3 trillion by May 2021, and then USD 4 trillion by December 2023, the trajectory of market capitalization reflects India’s robust economic resilience. Notably, the addition of the latest trillion occurred in just six months, showcasing the accelerated pace of growth. Leading this charge are powerhouse corporations like Reliance Industries Limited, TATA Consultancy Services Limited, HDFC Bank Limited, ICICI Bank Limited, and Bharti Airtel Limited, comprising the top echelons of market capitalization.
The surge in market value extends beyond the blue-chip giants, with the Nifty 100 constituents now accounting for 61% of total market capitalization, down from 74.9% in April 2014. This diversification underscores the vibrancy of India’s stock market, attracting both domestic and foreign investors alike.Acknowledging this monumental achievement, Shri Sriram Krishnan, Chief Business Development Officer of NSE, credited the supportive regulatory frameworks and investor confidence in India’s economic future. As the NSE continues to provide cutting-edge market infrastructure, the milestone signifies a pivotal moment in India’s journey towards a technology-driven, knowledge-based economy with a robust financial sector.
