Adani Reclaims Fifth Place in World Stocks

After France momentarily overtook India in the top five equities markets worldwide in terms of value amid a selloff of Adani Group shares, India has restored that position (Fifth Place).
According to statistics published by Bloomberg that shows the aggregate worth of firms with a primary listing in each nation, India’s market capitalization was at $3.15 trillion on Friday, inching back over France with the UK maintaining seventh position.

The likelihood of profit growth boosted the attraction of the South Asian nation’s stocks, which have outperformed the majority of their international rivals over the last two years.
Even still, the market’s overall value was around 6% lower than it was on January 24, the day before the selloff in Adani stocks started. Although the company’s efforts to regain investor trust have helped its shares regain some value, they are still worth $120 billion less than they were before to the sell-off.
Foreign investors were net purchasers during two of the seven sessions this month through February 9 after withdrawing money from Indian shares since November. The acquisitions were in line with the government’s aim to raise capital investment announced at the beginning of February, while the central bank last week hinted at a slower pace of interest rate hikes.

Also read:- Surat Diamond Bourse is world’s largest corporate building: Fascinating Details

Analysts predict that profits per share for MSCI India businesses will rise 14.5% this year as the most recent reporting season progresses. According to statistics gathered by Bloomberg Intelligence, it is better than other major markets and in line with projections for China. In contrast, it is anticipated that US companies’ EPS would increase by 0.8%, while comparable figures for European companies are forecast to remain almost unchanged.