Booming Indian stock market is on the cusp of overtaking UK, shows data

India’s stock market is on the verge of overtaking that of the UK in value, to join the world’s top five club, at least by one measure. 

Driven by record-low interest rates and a retail investing boom, India’s market capitalisation has surged 37 per cent this year, according to an index compiled by Bloomberg, representing the combined value of companies with a primary listing. 

This compares with a gain of just 9 per cent for the UK. Still, London’s capitalisation is much larger if secondary listings and depository receipts are included.