The UK surpassed India as the sixth-largest country by , as the domestic market grappled with a crash in stock prices of Adani Group and a weak rupee thats prompting foreign investors to turn net sellers.
This is the first time in nine months that the UK took the spot of sixth-largest market by value and India is at the seventh spot, a Bloomberg report said. Compared to India, a weak pound sterling is helping UK companies boost their exports and that, in turn, is leading to a surge in their stock prices, it said.
At close of trading on Tuesday, the UK had a market cap of $3.11 trillion, about $5 billion ahead of Indias, Bloomberg data showed. The table is topped by US with a market cap of almost $44 trillion, with China at the second spot with $11.1 trillion.