India's total market cap now stands at $4.99 trillion — the lowest since May 9.
India has lost its $5 trillion market capitalisation (mcap) tag following Monday’s sharp selloff in equities and a simultaneous slide in the rupee.
According to BSE data, the country’s total market cap now stands at $4.99 trillion — the lowest since May 9.
In US dollar terms, India’s mcap has declined nearly 13 per cent from its peak and is down about 5.6 per cent on a year-to-date basis, marking the steepest drop among major global markets.
With the exception of the US, most large global markets have posted strong gains this year.
China, Japan, and Taiwan have delivered double-digit returns, underscoring India’s relative underperformance.
India’s share in global market capitalisation has slipped to 3.17 per cent.
The country has also ceded ground in the MSCI Emerging Markets index: after briefly rising to the second position in terms of weight, India has now slipped to fourth place, behind China, Taiwan and South Korea.