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Market Beat - Detailed News

NSE listed companies? market capitalization surpass $4 trillion
04-Dec-23   10:13 Hrs IST
The market capitalization of Indian listed companies on NSE surpassed $4 Trillion (Rs 334.72 trillion) on 1 December 2023.

The journey of market capitalization of Indian listed companies from to $2 trillion (July 2017) to $3 trillion (May 2021) took about 46 months whereas the last $1 trillion i.e., from $3 trillion to $4 trillion took only about 30 months, the National Stock Exchange of India said in a release on 3 December 2023.

While the $4 trillion market capitalization is an important milestone, data suggests that only 0.35% of the total private companies registered with Ministry of Corporate Affairs, Government of India are listed on the Exchanges indicating an enormous number of companies which can tap the equity market for their funding needs, it added.

The top 3 companies by market capitalization - Reliance Industries, Tata Consultancy Services and HDFC Bank remained the same when the market capitalization hit the $2 trillion, $3 trillion, and $4 trillion mark.

Whie India ranks amongst the top 5 nations based on market capitalization, the market capitalization of listed companies on NSE to India's GDP stood at 1.18 or 118% which is lower as compared to developed markets such as United States of America or Japan.

The share turnover velocity at NSE for calendar year 2023 stood at 47%, lower than global markets such as the United States of America, Japan, South Korea, China, and Brazil, indicating growth potential for the Indian market. Additionally, the daily average turnover has seen significant year-on-year growth in the equity segment and equity derivatives, indicating a growing market.

Sriram Krishnan, chief business development officer, NSE said, NSE listed companies' market capitalization surpassing the $4 trillion mark is an important milestone in the country?s journey towards the $5 trillion economy. The positive sentiment in the economy has provided a thrust to the capital markets. NSE as a market infrastructure institution will continue to thrive and provide the best-in-class market infrastructure for resource mobilization for the Government and the Corporates at the same time. It will continue to provide a robust platform for investors to invest in variety of financial products, thereby supporting the important aspect of capital formation in the country.

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