Indian stock market today regained its trillion-dollar level, although by a
wafer-thin margin, after keeping out of this elite league for two straight
days. At the end of today's trade, the total valuation of all listed companies
in the country rose to USD 1.001 trillion (Rs 60,95,947 crore) on the back of
appreciation in rupee as well as stock valuations. Rupee today bounced back to
close at Rs 60.88 against the dollar, after hitting its all-time closing low of
Rs 61.30 yesterday. The stock market benchmark Sensex also gained 124 points to
close at 18,789.34 points.
Amid weakness in rupee as well as stock values, Indian stock market's valuation had slipped further to USD 985 billion yesterday, after slipping below the USD one-trillion level a day prior to that. However, India currently commands a trillion-dollar level with a margin of just 0.1 per cent and any further weakness in rupee or stock values can push it out of this league. Besides India, only 13 stock markets across the world enjoy a trillion-dollar status, including the US, UK, Japan, China, Canada, Hong Kong, Germany, France, Switzerland, Australia, South Korea, Nordic region and Brazil. Markets like Russia, Spain and South Africa have also moved out of this club after enjoying a trillion-dollar status in the past, while at least three others -- Brazil, South Korea and Nordic region markets -- are maintaining this level with small margins. India had first entered the trillion-dollar club in June 2007, but moved out in September 2008, amid a global slowdown. It again got back into this elite league in May 2009 and had largely remained there since then, except for some brief periods including once in 2012. Rather than the fall in share values, the rupee weakness has been a greater force behind the dollar-valuation plunge in the recent months.
Amid weakness in rupee as well as stock values, Indian stock market's valuation had slipped further to USD 985 billion yesterday, after slipping below the USD one-trillion level a day prior to that. However, India currently commands a trillion-dollar level with a margin of just 0.1 per cent and any further weakness in rupee or stock values can push it out of this league. Besides India, only 13 stock markets across the world enjoy a trillion-dollar status, including the US, UK, Japan, China, Canada, Hong Kong, Germany, France, Switzerland, Australia, South Korea, Nordic region and Brazil. Markets like Russia, Spain and South Africa have also moved out of this club after enjoying a trillion-dollar status in the past, while at least three others -- Brazil, South Korea and Nordic region markets -- are maintaining this level with small margins. India had first entered the trillion-dollar club in June 2007, but moved out in September 2008, amid a global slowdown. It again got back into this elite league in May 2009 and had largely remained there since then, except for some brief periods including once in 2012. Rather than the fall in share values, the rupee weakness has been a greater force behind the dollar-valuation plunge in the recent months.
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