India surpasses Hong Kong to become the fourth-largest global hub of equities, trailing only the US, China, and Japan. However, the gap between Dalal Street and Wall Street is significant. The US market, with a total market capitalization of $51 trillion, is so massive that just two stocks, Apple and Microsoft, exceed the combined value of all 5,000-plus stocks listed in India. Meanwhile, the world’s most valuable companies are Apple and Microsoft, followed by Saudi Aramco. In India, Reliance Industries and HDFC Bank are the largest stocks. HDFC Bank is the top candidate to reach a $1 trillion market capitalization, followed by RIL and Bajaj Finance. The Indian market is expected to continue growing, driven by foreign institutional investors and increasing retail participation.
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