Smaller Indian companies propel mcap towards $4 trillion milestone

'The go-to market': India's strong earnings, macroeconomic stability, and domestic flows make it a standout market, say analysts

Higher valuation creation in companies beyond the top 100 has given the domestic markets a shot at a $4 trillion market capitalisation (mcap) — a club exclusive to three countries currently.

On Thursday, the mcap of all BSE-listed stocks finished at a new record of Rs 328.33 trillion ($3.94 trillion), despite the benchmark indices ending with losses.

The mcap was propelled by gains in the broader market, including small and midcap stocks — a trend dominant this year.

Stocks outside the top 100 now contribute 40 per cent to the country’s mcap, up from 35 per cent at the start