Indian Stock Market entered trillion dollar club on 20 May 2014. The combined market cap (m-cap) of Sensex and Nifty rose to 1.42 trillion US dollar. As a result, in term of m-cap, Indian stock market became the tenth largest in the world leaving behind Australia and South Korea.
Indian stock market now form 2.2 per cent of the world market cap compared with 1.8 per cent at the beginning of the year 2014.
The Nifty gained 15 per cent since the beginning of the year 2014. On the contrary, China, India's biggest emerging market rival, has fallen 4.30 per cent year-to-date, while Canada has risen by 7.10 per cent, UK by 0.87 per cent and the US by 1.94 per cent.
Indian markets have contributed close to 50 per cent in the recent 572 billion US dollar increase in global market capitalisation. India's contribution of 282 billion US dollar is equivalent to total GDP of Philippines.
The US dominated the world with a market cap of 22.31 trillion US dollar followed by Japan and UK at second and third place. The other economies in the top ten are: Hong Kong, China, France, Canada, Germany, Switzerland and India.
Earlier in August 2013, India had dropped out of top ten stock markets of the world due to flight of capital from the Indian economy on account of policy logjam.