Indian Equities Vault Back Into World’s Top 10: Chart of the Day
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Investor enthusiasm for Narendra Modi has vaulted India back into the ranks of the world’s top 10 equity markets and the rally may have further room to go.
The CHART OF THE DAY shows the combined value of stocks in India, Australia, South Korea and Brazil. India’s market value climbed to $1.42 trillion on May 19, eclipsing Australia after overtaking the other two nations during the past six months. The lower panel shows foreign investors bought the most Indian shares in 15 months last week, when Modi’s party won the first majority in India’s parliament in 30 years.