On May 23, 2024, the market capitalization of Indian listed companies on the NSE surpassed USD 5 Trillion (Rs 416.57 trillion), with the Nifty 50 Index reaching an all-time high of 22,993.60 and the Nifty 500 index reaching an all-time high of 21,505.25, indicating growth in the equity market is not limited to large, capitalized stocks.
The journey of market capitalization of Indian listed companies from to USD 2 trillion (July 2017) to USD 3 trillion (May 2021) took about 46 months, USD 3 trillion to USD 4 trillion (December 2023) took about 30 months and the latest USD 1 trillion addition took only about 6 months. The top 5 companies by market capitalization are Reliance Industries Limited, TATA Consultancy Services Limited, HDFC Bank Limited, ICICI Bank Limited and Bharti Airtel Limited. 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.”
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.
