Stocks on verge of record US$4 trillion valuation

Rising tide: The National Stock Exchange building in Mumbai. Small and mid-cap stocks have been outperforming this year, according to analysts. — Bloomberg

MUMBAI: A surge in investments by retail traders and resurgent foreign inflows have put India’s stock market – the world’s fifth biggest – on the verge of a US$4 trillion valuation for the first time.

The market capitalisation of securities listed on the nation’s exchanges has tripled since the March 2020 pandemic low to reach a whisker short of the US$4 trillion mark as of Monday, according to data compiled by Bloomberg.