India’s Stock Value Tops $5 Trillion as Modi’s Win Powers Rally

(Bloomberg) — India’s stock market value exceeded $5 trillion for the first time, with the latest boost coming from a commitment by Prime Minister Narendra Modi’s new coalition for policy continuity in the world’s fastest-growing major economy.

The country’s equity market has joined the ranks of the U.S., China, Japan and Hong Kong after topping the threshold last week, according to data compiled by Bloomberg. It took India about six months to add the latest $1 trillion to the capitalization of companies listed on its exchanges.