Breaking records and setting new standards, the National Stock Exchange (NSE) of India has achieved an unprecedented milestone, with the market capitalization of listed companies surpassing USD 5 trillion on May 23, 2024. This remarkable feat coincides with the Nifty 50 Index soaring to an all-time high of 22,993.60, signaling a resounding vote of confidence in India’s corporate landscape.
The journey to this pinnacle has been nothing short of extraordinary. From USD 2 trillion in July 2017 to USD 3 trillion by May 2021, and then USD 4 trillion by December 2023, the ascent has been swift and steadfast, reflecting the dynamism of India’s business ecosystem.Driving this surge are industry stalwarts like Reliance Industries Limited, TATA Consultancy Services Limited, HDFC Bank Limited, ICICI Bank Limited, and Bharti Airtel Limited, emerging as the flagbearers of market capitalization growth.
Notably, this expansion isn’t limited to the giants, with the Nifty 100 constituents now accounting for 61% of total market capitalization, down from 74.9% in April 2014, signaling a broader-based growth trajectory. Acknowledging this momentous occasion, Shri Sriram Krishnan, Chief Business Development Officer of NSE, extended gratitude to regulatory authorities and stakeholders for their unwavering support. As NSE continues to provide cutting-edge market infrastructure, this milestone heralds a new era of innovation and prosperity in India’s corporate landscape.
