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India's stock market value overtakes Hong Kong's becoming seventh largest in the world
India's stock market value has overtaken Hong Kong's to become the seventh largest in the world, as the country has been a standout market this year in the Asia-Pacific region. As of the end of November, the total market capitalization of the National Stock Exchange of India was at nearly $4 trillion. Optimism about the country's economic prospects is growing: increased liquidity, increased domestic participation and falling US treasury yield have all been boosting the country's stock markets. Sectors in the world's most populous country such as autos, retailers, real estate and telecoms are particularly well positioned for 2024. On the other hand, fast-moving consumer goods, utilities and chemicals are seen by analysts as unfavorable.
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