As Adani Group shares saw a massive selloff, India has reclaimed fifth place among the world’s top equity markets by value.
According to Bloomberg, India’s market capitalization stood at $3.15 trillion on Feb 10th, inching back above France with the UK retaining seventh place.
The total value of India’s market was about 6% lower than Jan. 24, the day before the selloff in Adani stocks began. While steps by the group to restore investor confidence have helped its shares reclaim some value, they remained $120 billion lower than before the rout.