Goldman Sachs report says that more than 150 private firms could potentially list on the stock market over the next 36 months, adding as much as $400 billion of market value.
India’s stock market has been on a bull run since the pandemic and has recently surpassed the Stock Market of France to become the world’s sixth-biggest stock market. Currently, the US stock market has the highest market capitalization of $51.3 trillion, followed by China, Japan, Hong Kong, and the UK, which have market capitalizations of $12.42, $7.43, $6.52, and $3.68 trillion, respectively. According to the Bombay Stock Exchange (BSE), India’s stock market capitalization reached $3.53 trillion, eclipsing France’s $3.48 trillion market value.
Now a new Goldman Sachs report says that more than 150 private firms could potentially list on the stock market over the next 36 months, adding as much as $400 billion of market value. It would be enough to surpass the UK stock exchange in terms of market capitalization by 2024. “Looking forward, we think Indian equity indices could see a larger representation of the new-economy sectors over the next 2-3 years as the large digital IPOs get included in the index,” says the Goldman Sachs report.
As these start-ups list in the public markets, Goldman predicts that it could potentially transform Indian capital markets and significantly add to the market cap. According to the bank, India’s global market value share is speculated to rise from 2.8% to 3.7% over the next five years. Also, since thepandemic, a large number of people have started trading as it has become easy to trade with a lot of innovative stock brokers launching their services from last year.
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