UK, 22/2: The UK has surpassed India as the world’s sixth-largest equity market for the first time in almost nine months as a weaker pound boosted the appeal of heavyweight exporters trading in London and Adani Group-led jitters weighed on stocks in Mumbai.
The combined market capitalisation of primary listings in the UK, excluding ETFs and ADRs, reached about $3.11 trillion on Tuesday, some $5.1 billion higher than their Indian equivalents, according to data compiled by Bloomberg. That hasn’t happened since May 29.