Stocks And Sectors That Drove India's Market Cap Past $4 Trillion

Financial services and capital goods were the biggest contributing sectors as India added $1 trillion market capitalisation in two years to cross the $4 trillion milestone.

The top 20 companies contributed 36.5% of the rise, while the top 50 made up for more than half of the addition, accounting for 56.7%.

The cumulative market capitalisation of all BSE Ltd.-listed companies rose by $1 trillion since May 2021, when it first hit the $3 trillion level. While it took two years to add the last trillion dollars, India's market capitalisation moved from $2 trillion to $3 trillion in four years, while it took over a decade to double from $1 trillion.

ITC Ltd. contributed the most as it surged more than twofold over the 30-month period, adding nearly $33 billion. The rally came after it recorded zero returns over an eight-year period beginning April 2013, lagging benchmark Nifty 50 that returned 174% gains.

Reliance Industries Ltd. was the second biggest contributor, adding $32.8 billion to investor wealth—a 36.7% rise.

The top 10 companies accounted for 24.3% of the gains since the country hit the $3 trillion milestone.

Financial services was the biggest sectoral contributor, adding over $174 billion. Nifty PSU Bank jumped 125%, while Nifty Bank rose 34.2% during the period.

The next two big contributors were capital goods, and automobile and auto components, adding a $145 billion and $82 billion in market capitalisation, respectively.