The market capitalization of Indian listed companies on NSE surpassed USD 5 Trillion (Rs 416.57 trillion) on May 23, 2024. On the same day, the Nifty 50 Index touched an all-time high of 22,993.60 The Nifty 500 index also touched an all-time high of 21,505.25 today indicating that growth in equity market is not restricted to only the large, capitalized stocks.
Indian listed companies’ market capitalization increased from USD 2 trillion in July 2017 to USD 3 trillion in May 2021, USD 3 trillion to USD 4 trillion in December 2023, and the latest USD 1 trillion addition in just 6 months. The top five companies by market capitalization are Reliance Industries Limited, TATA Consultancy Services Limited, HDFC Bank Limited, ICICI Bank Limited, and Bharti Airtel Limited. The Nifty 50 index has yielded 13.4% returns over the past decade, while domestic mutual fund assets under management (Equity and Debt) increased by 506% from Rs 9.45 trillion in April 2014 to Rs 57.26 trillion in April 2024, and foreign portfolio investors’ assets under management increased by 345% from Rs 16.1 trillion in April 2014 to Rs 71.6 trillion in April 2024. Shri Sriram Krishnan, Chief Business Development Officer, NSE said, “I would like to thank the Government of India, Securities Exchange of Board of India, and Reserve Bank of India for supporting the capital market ecosystem with progressive regulatory frameworks.”