India breaks into world's top five club in terms of market capitalisation

Germany, once among the top five markets, has now slipped to tenth

India’s equity market has broken into the world’s top five club in terms of market capitalisation for the first time. The country’s total market cap stands at $3.21 trillion, which is higher than that of the UK ($3.19 trillion), Saudi Arabia ($3.18 trillion), and Canada ($3.18 trillion). 

This year, India has climbed two positions, despite a 7.4 per cent drop in its market cap. At the start of the year, the UK and France ranked fifth and sixth with a market cap of $3.7 trillion and $3.5 trillion, respectively. 

Russia’s attack on Ukraine has upended the ranking with European nations seeing the