A powerful rise supported by foreign fund inflows, better domestic macroeconomic conditions, and a recovery in Adani group equities saw the Indian stock market return its ranking as the fifth largest market in the world. According to Bloomberg, on Friday, India’s market value surpassed that of France to reach $3.3 trillion.
The increase in the Indian stock market also coincides with ongoing foreign capital inflows that are being pushed by better macroeconomic prospects.
The corporate profits for the three months ending March 2023 were in line with market expectations. With the expectation of a normal monsoon season, India’s GDP growth in the March quarter is also anticipated to stay strong above 7%.
