India equity market to be the fifth largest in the world
4 weeks ago Rajeev K Sharma 0
New Delhi: According to a report India is likely to overtake China by proving to be fastest growing large economy by 2018 because the country equity market will become the fifth largest in the world. Expected economy growth is remarkable as the developed economies are expecting a growth of 2-3 percent, whereas India is expecting a growth of 7.5 percent.
A Delhi-based wealth management firm Sanctum Wealth Management drafted a report in which it claims “India seems to be a reforming economy and has good prospects of long-term growth in future as India equity market is turning to be world fifth largest”. The wealth management company also states that reforms such as Aadhaar, Jan Dhan Yojna, Demonetisation & lastly Goods and Services Tax( GST) are helpful in making new changes in Indian economy by the near future.
Sanctum Wealth Management reports that ” If inflation or rate hikes occur then markets will not register further gains. Currently, the prospective growth from equity returns is more than 6-8 percent“. According to the reports, the Domestic mutual funds bought equities bought worth USD 15.3 billion which is much more than USD 8 billion from the foreign investors in the year 2017.
Shiv Gupta, CEO of Sanctum Wealth Management mentioned that ” Nifty50 is in an uptrend and a move beyond 10,490-10,580 levels may help the stock market to make a rally up to 11,200-11,500 levels in the mid-term“.
Back in the year 2017, India was among the top three countries in the world with acquiring more than 35 percent in dollar terms along with Hungary & South Korea. During 2017 S&P BSE Sensex earned 35 percent return in terms of dollar and these figures are best since 2009. However, the local currency rose by 28 percent and hitting 34,000. In 2017 Indian equity market proves to be the eight largest economies in the world.