India exits $3-trillion m-cap club; falls to sixth in global league

Correction in the stock market, FPI sell-off reduce valuation by $676 billion

The Indian market is no longer part of the coveted $3-trillion market capitalisation club. The latest rout in the market has seen its value slip to $2.99 trillion, the lowest in nearly 13 months. From the peak of $3.67 trillion in January, India’s market cap has eroded by $676 billion amid rising bond yields and a record-breaking sell-off by overseas investors.

India is not the only country to move out of the $3-trillion m-cap club, however. The market cap of the UK, Canada, and France too have dropped below this milestone. Germany’s market cap is on the verge of slipping below