Equity Market
India overtakes Taiwan, South Korea to become world's fifth-largest equity market again
Mumbai/IBNS: India has reclaimed its position as the world's fifth-largest equity market after overtaking Taiwan and South Korea, aided by a rise in domestic market capitalisation and declines in the two Asian peers, according to media reports.
India climbs back to fifth spot
India's total market capitalisation has risen 2.75 percent so far in June, helping it regain the fifth position in the global equity market rankings.
In contrast, the market capitalisation of South Korea and Taiwan has declined by 4.7 percent and 2.3 percent, respectively, pushing both markets below the $5 trillion mark.
US remains the world's largest equity market
The United States continues to dominate as the world's largest equity market, followed by China, Japan and Hong Kong.
India now occupies the fifth position after the recent reshuffle in global market rankings.
Profit-booking hits Taiwan and South Korea
The decline in Taiwan and South Korea has largely been driven by sharp profit-booking in technology and semiconductor stocks, leading to a fall in the overall market value of both countries.
Geopolitical concerns remain
While investors remain cautious amid evolving geopolitical developments, market sentiment has improved following the reopening of the Strait of Hormuz and the easing of crude oil prices.
The softer oil prices have helped support broader investor confidence despite lingering global uncertainties.
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