India third-best performing major market in 2024, domestic mcap soars 18.4%

The domestic market capitalisation has soared 18.4 per cent to $5.18 trillion in 2024, adding $806 billion. This growth ranked third globally among the top 15 major markets, both in percentage and absolute terms. India will finish the year with the fifth biggest global market.

 

The world’s largest market, the US, leads the performance charts with a staggering 25.6 per cent, or $12.9 trillion increase in market cap to $63.3 trillion. Interestingly, the world market cap rose by $13.8 trillion, or 12.4 per cent, to $125 trillion during the current calendar year, with the US market alone accounting for 93.6 per cent of the gain. 

 

Most of the market value in the US has been driven by big tech firms, which includes Apple, Nvidia, Meta and Tesla. Taiwan’s mcap rose by 21.2 per cent, second most among major world markets. Thanks to the sharp rebound off lows Hong Kong and China are set to end the year with mcap gains of 17.8 per cent and 6.6 per cent, respectively. Meanwhile, among the major markets South Korea and France have seen market cap erosion of over $340 billion each this year with political instability weighing on their performance.