India’s primary stock market indices, Nifty and Sensex, have demonstrated remarkable growth in the current year, reaching unprecedented highs. Nifty has recorded an impressive growth rate of 18.5 percent, while the benchmark Sensex has surged by 17.3 percent in the year 2023.
According to a report by Ernst and Young, the Indian stock market has witnessed a robust influx of new listings, with over 150 companies making their debut in the first nine months of the year. In comparison, Hong Kong, another significant financial hub, saw only 42 new listings during the same period. Further accentuating this bullish trend, the Sensex achieved a historic milestone by surpassing the 72,000 points mark on a Wednesday, setting a new record.
In terms of market valuation, several international stock exchanges currently outpace the National Stock Exchange (NSE) of India. Notable names include the New York Stock Exchange (US), Nasdaq (US), Shanghai Stock Exchange (China), Euronext, Japan Stock Exchange, and Shenzhen Stock Exchange (China).
The United States remains the global leader in market valuation, boasting a total value exceeding $50 trillion. Despite economic challenges in the West, the US stock exchange exhibited resilience, recording a substantial 22.6% growth in the current year.
While both the US and India experienced significant growth, the world’s second-largest market, China, faced a contrasting scenario, witnessing a decline of approximately 9% in 2023. This downturn can be attributed to the economic challenges posed by the ongoing Covid pandemic, which has impacted various sectors of the Chinese economy.
