After ouster from top-5 club, Indian mkt now risks losing $3-trn m-cap tag

The last time India's m-cap had slipped below $3 trn was last June; at the peak, the m-cap stood at nearly $3.67 trillion in January 2022. Current m-cap is 18 per cent below the peak

India’s coveted $3-trillion market cap tag could be at risk. In fact, it even briefly slipped below the $3-trillion mark amid a selloff in the global markets following the banking crisis. According to data compiled by Bloomberg, the combined market value of domestically-listed companies had closed a shade below $3 trillion at the end of last week. 

The data could be linked to NSE-listed companies, where shares of about 2,000 companies are traded. If one goes by the data provided by BSE—where close to 4,000 companies are traded—India’s market cap at Rs 253.59 trillion, or $3.08 trillion, is less than 3 per cent above the $3-trillion mark. 

Earlier this year, India had slipped out of the top-five market cap club amid a $150-billion rout in Adani group stocks. 

The last time India’s m-cap had slipped below $3 trillion was in June 2022, shows Bloomberg data. At the peak, India’s m-cap stood at nearly $3.67 trillion in January 2022. Current mcap is 18 per cent below the peak.