In the run up to the national polls, Dalal Street has edged past Germany’s DAX on the global market capitalisation leader-board, resonating the average Indian voter’s confidence that this summer’s Lok Sabha elections would see a stable Modi government come to power again.
Germany, which is Europe’s largest economy has a market cap of $ 2.08 Trillion, compared with $ 2.12 Trillion for India. The US continues to be leaps and bounds ahead of everyone and its stock markets contribute around 39% of the world’s market cap.
India’s market cap touched a record high of $ 2.45 Trillion in January 2018 and has risen 4% in dollar terms in the last one year.
Germany’s slide means that after the UK leaves the European Union after Brexit is complete; there would be only one EU nation, France, in the 7 biggest capital markets in the world.
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