India’s market cap outperforms global markets

Global market cap rose 7.3 per cent ($7.2Tn) over the past 12 months, whereas India’s market cap jumped 17.2 per cent Barring Russia and China, all key global markets witnessed an increase in market cap over the past 12 months, Motilal Oswal Financial Services stated in a report.

The Nifty ended larger for the fourth consecutive month in June’23. The index oscillated 737 factors earlier than closing 655 factors (or 3.5 per cent ) larger MoM at 19,189 – a brand new peak. The Nifty is up 6 per cent in CY23YTD. Midcaps/smallcaps outperformed largecaps by 3.1 per cent /2.4 per cent in June’23. Similarly, over the past 12 months, midcaps/smallcaps have outperformed largecaps and have risen 35 per cent /28 per cent vs. a 22 per cent rise for the Nifty.

FII inflows are the very best since September’22. FIIs remained web consumers for the fourth straight month at $6.7bn in June’23; YTD inflows stood at $11.2bn. Conversely, DIIs – after reporting outflows in May’23 – noticed muted inflows in June’23 at $0.5bn; YTD inflows stood at $10.5bn, the report stated.

Among the important thing global markets, Brazil (+9 per cent ), Japan (+7 per cent ), the US (+6 per cent ), India (+4 per cent ), MSCI EM (+3 per cent ), Taiwan (+2 per cent ), and the UK (+1 per cent ) ended larger in June’23, whereas Korea (-0.5 per cent ), and China (-0.1 per cent ) ended decrease in native foreign money phrases.

Over the final 12 months, the MSCI India index (+17 per cent ) has outperformed the MSCI EM index (-1 per cent ). Over the final 10 years, the previous has outperformed the MSCI EM index by 178 per cent, the report stated.

After a roller-coaster journey of 18 months, Nifty-50 lastly surpassed its all-time excessive and touched the 19,000 mark in June’23. The feat was by no means simple although! Nifty’s journey from 18,000 to 19,000 took 425 buying and selling days (from October’21-June’23) vs. solely 31 days when it lined the journey from 17,000 to 18,000. With wholesome macros, range-bound oil costs, a strong fiscal stability sheet and moderating inflation, the outlook for the market seems optimistic, the report added.

(With inputs from IANS)