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India becomes the fifth most valuable stock market, ahead of the United Kingdom, Canada and Saudi Arabia

Currently, the United States is the largest global market valued at $47.32 trillion, followed by China ($11.52 trillion), Japan ($6 trillion), and Hong Kong ($5.55 trillion). trillions of dollars).

Representative image. News18

India has become the fifth most valuable stock market ahead of the United Kingdom, Canada and Saudi Arabia.

Currently, the United States is the largest global market valued at $47.32 trillion, followed by China ($11.52 trillion), Japan ($6 trillion), and Hong Kong ($5.55 trillion). trillions of dollars).

With the exception of Saudi Arabia, all major global stock markets lost amid tensions between Russia and Ukraine. Since early December, the United States has lost about $6.6 trillion, China $1.480 billion, Japan $622 billion and Hong Kong $524.31 billion.

India has lost less since the beginning of the year: 257.35 billion dollars. Brokerage firm Morgan Stanley says Indian equities have held up remarkably well despite the rise in crude, possibly due to a combination of a change in the macroeconomic mix of FDI, a drop in oil intensity in GDP, high real relative policy rates and strong domestic supply. on stocks.

“The rally in markets over the past two days is obviously helped by positive sentiments regarding the election results as well as rumors that the war in Ukraine appears to be coming to an end. There have been signs of reconciliation between the Russia and Ukraine, and their foreign ministers are expected to meet again today,” Nilesh Shah, managing director of Kotak Mahindra Asset Management Company, said in an exclusive chat with CNBC-TV18 on March 10.

Equity markets, particularly in India, are impacted by geopolitical tensions between Russia and Ukraine, which have resulted in sustained selling by Foreign Institutional Investors (FIIs).

“For Indian equity markets, the real war is the continued selling off of FII, which is daily in the $1 billion range for the past few days,” said Raamdeo Agrawal, co-founder and co-CEO of Motilal. Oswal Financial. Services, in a CNBC-TV18 interview. “FIIs are out of India for now but they will have a very painful entry whenever they decide to go back to Indian stocks,” Agrawal added.

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