India's stock market value has crossed the 5 trillion dollar mark. This development has returned the country to the sixth position globally.
The rebound comes after a peace deal between the US and Iran. That agreement lifted investor confidence in the markets.
India's market capitalization now stands at over 5 trillion dollars. This marks an increase from its previous level.
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Indian equity benchmarks Sensex and Nifty posted their strongest single-day gains in years on Wednesday, driven by a US-Iran ceasefire that eased oil prices and inflation fears. The market capitalization of BSE-listed companies rose by ₹16.1 lakh crore. However, Asian stocks turned cautious as the ceasefire showed signs of fragility.
India has regained its position as the sixth largest economy by market capitalization following a sharp decline in South Korea's stock market. The shift came after major South Korean companies saw steep losses in value. Indian markets showed relative stability amid the changes.
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Taiwan has overtaken India to rank as the fifth largest stock market in the world by capitalization. The change stems from a rally in artificial intelligence stocks led by semiconductor firms.
Indian stock markets saw a sharp selloff on Friday as Sensex and Nifty fell more than 1 percent. The decline was driven by passive fund flows tied to MSCI index reshuffles.
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Indian benchmark indices Sensex and Nifty closed nearly 6% higher for the week, snapping a six-week losing streak after a ceasefire between the US and Iran. Both indices rose 1.2% on Friday. Investors adopted a risk-on approach amid reduced volatility.
Foreign portfolio investors are directing record amounts into India's government securities this month following recent policy adjustments.
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Several brokerages have identified 10 largecap stocks in India with significant upside potential despite rising oil prices from the US-Iran war. Crude oil has surpassed $125 per barrel, fueling inflation fears and market uncertainty. Stocks like HDFC Bank and Bharti Airtel top the lists from firms including Jefferies and Axis Direct.