Global market capitalisation or the total value of all listed stocks in the world crossed $100 trillion mark for the first time last week led by the tech-driven market rally in the US and China. On December 5, the world’s market capitalisation was at $100.5 trillion, or about Rs 7,400 lakh crore, the Times of India mentioned in a report citing Bloomberg data.

                           

A V-shaped recovery of almost 63% from the March low of $61.6 trillion has helped Global market cap global m-cap reach the milestone. On March 24, the global market cap had fallen to $61.6 trillion — a level that was not seen since 2016, according to Bloomberg data. It has risen 15.5% in the year so far from $87 trillion at the close of 2019. 

A large part of this rally was led by tech stocks in the US, popularly known as FAANGM (Facebook, Apple, Amazon, Netflix, Google and Microsoft), market players said. At close of trading last week, the US had an m-cap of $41.6 trillion, while China’s was $10.7 trillion. India, with a market cap of about Rs 180 lakh crore or $2.4 trillion, was placed 10th.

From 39.5% at the start of the year, the US now has a share of over 41.6% to lead the global market cap table, while China with 10.7% from 8.4% at the start, is the secondmost valued. Likewise, India’s share currently is 2.4%, down marginally from 2.5% at the start of the year.

On the other hand, Japan — the country with the thirdhighest market cap — grew from $6.3 trillion to nearly $6.8 trillion, but its share in global m-cap slid from 7.2% to just over 6.7%. 

Canada is the only country that increased its position in the global league table to seven from eight, replacing Saudi Arabia, thanks mainly to Saudi Aramco’s m-cap which is almost at the same level it was at the start of the year, while a rally in tech stocks lifted Canada’s market cap.
 
The US and China have increased their market share in 2020, while all the other eight in the top 10 m-cap league have lost their shares.