Indian stocks have been scaling new peaks since the ruling Bharatiya Janata Party secured sufficient support from key allies to form a coalition government, ensuring Modi’s return to power for a third straight term. The victory, alongside robust economic growth and a recent upgrade of India’s ratings outlook by S&P Global Ratings, are combining to burnish India’s appeal for global investors.
India’s stock market value is exceeding US$5 trillion ($6.77 trillion) for the first time, with the latest boost coming from a commitment by Prime Minister Narendra Modi’s new coalition for policy continuity in the world’s fastest growing major economy.
The country’s equity market is joining the ranks of the US, China, Japan and Hong Kong after topping the threshold last week, according to data compiled by Bloomberg. It took India about six months to add the latest US$1 trillion to the capitalization of companies listed on its exchanges.
