India pips Germany into the $3-trillion market capitalisation club

India has piped European powerhouse Germany into the $3-trillion market capitalisation club. The Indian domestic market on Monday joined the UK, France and Canada in the $3-trillion m-cap club.

India currently ranks eighth on the table of most-valued equity markets, ahead of Germany which has a market cap of $2.8 trillion.

In the past, Germany and India had tussled for the eight position. Given the outperformance in European equities, Germany too could join the club soon. The DAX, a gauge for the performance of the largest companies listed on the Frankfurt stock exchange, is up 13% this year outperforming the Sensex which is up 6%.