After losing the spot to France in January, the Indian stock market has now reclaimed it as the fifth largest in the world after the price of Adani Group shares increased today, according to a Bloomberg article.
Foreign capital has been investing in Indian equities as a result of the Indian economy’s continued rapid growth in spite of the global recession and its recognition as one of the few bright spots by international organizations like the IMF and economic experts.
The prices of Adani Group shares have staged a significant return as investors have become more bullish following the committee the Supreme Court established to look into the claims surrounding the Hindenburg, which gave the company a clean bill of health and said that there was no regulatory failure on the part of market regulator SEBI.
On Monday, the market capitalization of the Ahmedabad-based firm surpassed Rs 10 lakh billion.
However, the committee had made note of the fact that a number of parties had taken short positions before the release of Hindenburg’s report and had benefited by squaring up their holdings when the prices fell.
