By Malvika Gurung
Investing.com -- Amid an ongoing global market slump since the past month, led by the Russia-Ukraine crisis and surging oil prices, the market capitalization of India has for the first time surpassed the UK’s counterpart, becoming the sixth biggest stock market in the world.
According to data released by Bloomberg, India’s market cap on Thursday stood at $3.16674 trillion, compared to the UK’s m-cap at $3.1102 trillion.
Here are the world’s biggest stock markets in order of their market caps.
- US: $46.01 trillion m-cap
- China: $11.31 trillion
- Japan: $5.78 trillion
- Hong Kong: $5.5 trillion
- Saudi Arabia: $3.25 trillion
Since the start of Feb, the ongoing geopolitical disturbances have eroded almost $357.05 billion of India’s market cap, while wiping out $410 billion from the British markets.
On the contrary, Saudi Arabia’s markets witnessed a $442 billion jump in value over the past month, led by historic surges in oil prices during this period, with the Gulf country being the world's second-largest crude oil exporter.
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