India pips Germany into the $3T market capitalisation club

Microsoft CEO Satya Nadella with Mukesh Ambani during the Microsoft Future Decoded Summit on February 24, 2020 in Mumbai, India. Sketched by the Pan Pacific Agency.

NEW DELHI, May 24, 2021, Business Standard. India has piped European powerhouse Germany into the $3-trillion market capitalisation club. The Indian domestic market on Monday joined the UK, France and Canada in the $3-trillion m-cap club, Business Standard reported.

India currently ranks eighth on the table of most-valued equity markets, ahead of Germany which has a market cap of $2.8 trillion.

In the past, Germany and India had tussled for the eight position. Given the outperformance in European equities, Germany too could join the club soon. The DAX, a gauge for the performance of the largest companies listed on the Frankfurt stock exchange, is up 13% this year outperforming the Sensex which is up 6%.

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