Indian stock market now fourth largest in world

Overtakes Hong Kong’s bourse in share value The combined value of shares listed on Indian exchanges reached $4.33 trillion as of Monday’s close, versus $4.29 trillion for Hong Kong, according to data compiled by Bloomberg.

New Delhi: The Indian stock market has overtaken Hong Kong’s bourse in terms of combined value of shares listed on the two exchanges. Tuesday’s 1,000-point slide by the Sensex is unlikely to disturb the ranking.

The combined value of shares listed on Indian exchanges reached $4.33 trillion as of Monday’s close, versus $4.29 trillion for Hong Kong, according to data compiled by Bloomberg.

Import duty on gold, silver coins hiked to 15%

Import duty on gold and silver findings & coins hiked to 15% by imposing a 5% Agriculture Infra Development Cess

4.35% cess also levied on ‘spent catalyst or ash containing precious metals’, said the Central Board Of Indirect Taxes

That makes India the fourth-biggest equity market globally. Its stock market capitalisation crossed $4 trillion for the first time on December 5, with about half of that coming in the past four years.

Barring the recent slump of three days last week and this week on Tuesday, the Indian equity market has experienced an unstoppable bull run for the entire year that has pushed Sensex and Nifty to all-time highs.

But surpassing the Hong Kong market has also been helped by a major slump there, mainly due to a slide in the value of shares of Chinese firms listed there.

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