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India crashes out of world’s top 10 stock market league, mcap below $2 trln

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MUMBAI: India has dropped out of the list of the world’s top 10 stock markets as the covid-19 pandemic led to a rout in global equities, ravaging valuations significantly this year.

India’s benchmark indices entered a bear market, and the rupee hit a record low against the dollar, indicating fragile economic activity.

Bloomberg data showed value of all shares traded, or aggregate market capitalization of India, fell 27.31% in dollar terms from the beginning of the year.

India is no longer part of the $2-trillion market cap club, falling to the 11th spot in the league table with $1.57 trillion mcap.

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