According to data, India’s market capitalization was $3.15 trillion on Friday, regaining the lead over France, with the United Kingdom remaining in seventh place. Pursuing a brief usurpation by France while selling Adani Group shares, India will reclaim fifth place among the world’s top equity markets by value.
A Quick Overview
According to Bloomberg data, India’s market capitalization on Friday was $3.15 trillion, regaining the lead over France, with the United Kingdom remaining in seventh place.
The outlook for earnings growth aided in reviving the appeal of South Asian equities, which have outperformed most global peers over the last two years. Nonetheless, the total value of India’s market was about 6% lower than on January 24, the day before the Adani stock selloff began.
While the group’s efforts to restore investor confidence have helped its shares regain some of their value, they are still $120 billion lower than before the rout. Foreign investors were net buyers in two of seven sessions this month through February 9, after withdrawing funds from Indian equities since November.
The purchases followed the government’s plan to increase capital spending announced in early February, while the central bank signaled a slower pace of interest rate increases last week.
Final Note
Analysts predict that earnings per share at MSCI India companies will rise 14.5% this year as the latest quarterly reporting season unfolds. According to Bloomberg Intelligence data, this is comparable to China’s expectations and outperforms most significant markets.
In contrast, EPS for US firms is expected to rise by 0.8%, while EPS for European firms is expected to remain nearly flat.
