Bloomberg | | Posted by Ritu Maria Johny
A rout in shares of Adani conglomerate has cost India its spot among the world’s five biggest equity markets, as the south Asian country’s market capitalization dropped below France’s on Monday to $3.2 trillion.
India’s slide to the sixth puts the gap with the UK, at seventh, at a little over $100 billion, according to data compiled by Bloomberg that represents the combined value of companies with a primary listing in the respective country. With Adani group’s units having lost $75 billion as the slump entered its fourth session, India may slip further down the ranking should the drag persist.