Where does India now rank in the global market cap league after all this correction in the stock markets?

India has been hit partially by the market weakness and partly by the rupee weakness versus the dollar. In fact, as per the latest report, India has dropped out of the list of the world’s top 10 stock markets post the Covid-19 pandemic. According to Bloomberg data, the aggregate market capitalization of India fell 27.31% in dollar terms since the beginning of 2020. India is no longer part of the $2-trillion market cap club and has fallen to the 11th spot with a market cap of just $1.57 trillion. In January 2020, India was in the tenth spot with a market cap of $2.16 trillion while it was still higher at the seventh spot in January 2019 with an aggregate market cap of $2.08 trillion. Apart from a 27% correction in the Sensex and Nifty, the rupee also ended up being one of the worst performers. Even the global stock markets have eroded 17% with market cap falling from $87 trillion to $72 trillion.