Booming India Stock Market Inches Toward a $4 Trillion Valuation

A surge in investments by retailtraders and resurgent foreign inflows have put India’s stock market — the world’s fifth biggest — on the verge of a $4 trillion valuation for the first time.

The market capitalization of securities listed on the nation’s exchanges has tripled since the March 2020 pandemic low to reach a whisker short of the $4 trillion mark as of Monday, according to data compiled by Bloomberg.

India’s benchmark NSE Nifty 50 Index jumped 2.1% on Monday, leading gains in Asia, after Prime Minister Narendra Modi’s ruling party won three crucial state elections. The victories removed ...