Year-End 2024: Indian Stock Market Rises to Fourth Largest Globally, Market Cap Exceeds ₹400 Lakh Crore
Mumbai (The Uttam Hindu): The year 2024 marked a historic milestone for the Indian stock market, with its market capitalization reaching ₹439 lakh crore (₹43.9 trillion), making India the fourth-largest stock market globally, after the US, China, and Japan. This achievement was highlighted in a report released on Thursday by financial firm Pantomath Group.
During the year, benchmark indices Nifty and Sensex reached record highs of 26,277.35 and 85,978.25, respectively. India's GDP growth for FY24 stood at an impressive 8.2 percent, surpassing expectations. However, the first half of FY25 saw a slowdown in growth due to inflationary pressures and weak consumption. The report anticipates a robust recovery in the second half of FY25, driven by increased government spending, private investments, and rural development initiatives.
The automobile sector showed remarkable growth, expanding by 10 percent to ₹6.14 lakh crore, with a strong push toward electric vehicle (EV) adoption. Exports from the sector are projected to reach ₹2.5 lakh crore by FY26. Additionally, India's commitment to achieving net-zero emissions by 2070 and 50 percent renewable energy by 2030 is supported by initiatives like the National Green Hydrogen Mission and 100 percent FDI in renewable energy.
According to Madhu Lunawat, CIO and Fund Manager of Bharat Value Fund, India offers abundant opportunities for domestic and global investors through AIFs, PMS, and mutual funds to benefit from the country’s long-term growth potential. Devang Shah, Head of Retail Research at ACMIIL, noted that improved corporate earnings, government capital expenditure, and softening commodity prices are expected to boost profits and margins for companies. Shah also highlighted that strong domestic demand, positive macroeconomic conditions, and increased private capital expenditure would contribute to robust corporate performance in the coming quarters.
