India’s M-Cap in Top 5
For the first time, India’s equity market reached the world’s fifth position in terms of market capitalization.
At present India is ranked 5th, after the U.S., China, Japan, and Hong Kong. At the start of 2022, India was ranked 7th. Later, India climbed two positions despite a 7.4% drop in its market capitalization. Now, India’s total market capitalization is $3.21 trillion.
Ranking of European countries
At the start of 2022, the United Kingdom and France ranked fifth and sixth. However, their rank has fallen and at present, they are ranked sixth and ninth respectively. Germany was once among the top five markets but mow its rank has fallen to tenth. Russia’s invasion of Ukraine has led to maximum erosion in market capitalization of European nations, which is the reason behind the fall in their ranks.
Ranking of Saudi Arabia
Saudi Arabia, which was earlier ranked 10th has climbed three positions and is now ranked 7th. Saudi Arabia’s state-owned oil giant, Aramco gained from the surge in oil prices. Aramco’s shares are up 15% year to date, valuing the company at nearly $2.4 trillion.
About market capitalization
Market capitalization (market cap) is the total market value of a publicly-traded company’s outstanding shares of stock. Market cap is calculated by multiplying the total company’s outstanding shares by the current market price of one share.
Category: Economy & Banking Current Affairs - 2024