Brief by Shorts91 Newsdesk / 06:58pm on 10 Dec 2023,Sunday Business
The National Stock Exchange of India is set to overtake Hong Kong in the list of the globe's largest trading venues by market capitalization. The NSE's total market capitalisation of listed firms stood at $3.7 trillion in October, just behind Hong Kong's $3.9 trillion, data showed. But thanks to surging earnings and upbeat Indian growth forecasts, share prices have since rallied further, putting the NSE on course to become the world's 7th biggest exchange after US, China, EU, and Japan markets. In contrast, Hong Kong has fallen victim to China's cooling economy, with real estate liquidity squeeze and frail confidence dragging down its benchmark Hang Seng index. India's Nifty 50 index of large companies hit new peaks this week, having risen over 8% in a month while Hong Kong’s Hang Seng index fell 6.7% during the same period.
