Bombay Stock Exchange among top 10 global SEs

Market capitalisation doubles to $1.3 trillion in 2009

The oldest Asian bourse saw its market capitalisation surge 93.3 per cent in 2009 compared to 2008, in turn pushing the country’s premier exchange into the league of top ten, says a report by World Federation of Exchanges (WFE). The Paris-based WFE is a trade association of 52 publicly-regulated stocks, futures and options exchanges.

Reflecting the bullish investor sentiment despite adverse global financial situation, the market capitalisation of the BSE surged to Rs 60,79,892 crore (US$1.31 trillion) last year from the paltry US$647 billion in 2008. In dollars terms, the BSE valuation skyrocketed nearly 102 per cent in 2009, while the rise was a tad less at 93.3 per cent in rupee terms, according to WFE data.

The BSE benchmark 30-share index Sensex rallied over 80 per cent last year and closed at 17,464.81 points on December 31, 2009. The key index had ended at a low of 9,647.31 points on December 31, 2008.

Among the top ten bourses with the largest domestic equity market capitalisations at the end of 2009, BSE is placed at the tenth spot, according to WFE. The league is topped by NYSE Euronext of the US with a market capitalisation of US$11.84 trillion and the Tokyo Stock Exchange Group (US$3.31 trillion) at the second place. 

The Nasdaq OMX (US$3.24 trillion) and NYSE Euronext (Europe) with a market valuation of US$2.87 trillion are at third and fourth spots, respectively. The London Stock Exchange (US$2.79 trillion) is placed at the fifth slot.

Others in the top ten list are Shanghai Stock Exchange (US$2.71 trillion, sixth slot), Hong Kong Exchanges (US$2.31 trillion, 7th), TMX Group of Canada (US$1.61 trillion, 8th) and the Brazilian BM&F BOVESPA at the ninth spot with a market valuation of US$1.34 trillion. According to WFE, the member-bourses in the Asia-Pacific region had a combined market capitalisation of US$14.09 trillion in January this year.