No contest between India and Pakistan markets amid geopolitical tensions

At least 15 Indian companies individually surpass Pakistan's entire market cap, with Reliance Industries alone valued at five times Pakistan's total

Amid recent geopolitical tensions, the Indian and Pakistani stock markets have moved in tandem in the past few days. However, Pakistan’s market pales in comparison to India’s, which remains in a league of its own. India’s market capitalisation (mcap), which stands at $5 trillion, is the world’s fifth-largest and operates on a vastly different scale than Pakistan’s.  At least 15 Indian companies individually surpass Pakistan’s entire mcap of $46 billion, with Reliance Industries alone valued at five times Pakistan’s total. Over the long term, Pakistan’s stock market has significantly underperformed India’s.  Despite a 60 per cent surge in