India outstrips France and U.K. in market cap to take fourth spot

Equities soar to records as investors bank on growing middle class

20230619N Mumbai stock exchange

Brisk corporate earnings have drawn overseas money into India stocks, lifting the key index to record levels. © Getty Images

HINAKO SATO, Nikkei staff writer

TOKYO -- The value of Indian stocks has eclipsed that of their British and French counterparts to rank fourth globally, as international investors snap up shares to bet on the growth of the world's most populous nation.

India's market capitalization totaled $3.4 trillion as of Friday, according to data from QUICK FactSet, surging 13% since March 31.

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