Technology companies have driven the overall market capitalization of the Asia-Pacific's (APAC) top 50 firms to reach an all-time high of $8.1 trillion at the close of 2024, which indicates a 20.6% year-on-year increase, says a new report.
India ranked third in terms of geographics after China and Japan with seven companies, and $914 billion. The country's equity markets skyrocketed to a new high last year, ensuring that the nation took its market capitalisation at $5.29 trillion this year to be fourth in the list, after US, China, and Japan.
Nifty and Sensex marked their all-time high at 26,277.35 and 85,978.25 last year.
APAC markets ended the year 2024 on a guarded note, with optimism for the new year tempered as trade risks under Donald Trump and China's stalling economic revival rose", Murthy Grandhi, Analyst of Company Profiles at GlobalData, said.
Taiwan Semiconductor Manufacturing Company still leads the way as APAC's biggest, showcasing a market cap of $850.3 billion, which is up by 69.7 percent year-over-year. According to a report, the global demand for semiconductors and Taiwan's critical role in its chip production have both contributed to TSMC's growth.
Samsung Electronics ranked seventh, yet its market cap plummeted 40.5 per cent due to headwinds in the high-bandwidth memory (HBM) chips segment, a key component for AI processors.
Bharti Airtel jumped to the 30th position with 52.6 per cent growth, a reflection of expansion in digital and telecommunication services in emerging markets. Hon Hai Precision Industry, also known as Foxconn for its role in Apple's supply chain, marked an entry into the top 50, ranking 50th with a 65.1 per cent YoY growth, according to the report.
Equity markets in early 2025 will probably be driven by key policy decisions," Grandhi said. The market capitalisation of NSE rose 21 pc to Rs 438 lakh crore in 2024
2024 has been an historic year for the Indian stock market as the market cap of the National Stock Exchange (NSE) increased by 21 per cent on a year-on-year basis to Rs 438.9 lakh crore ($5.13 trillion) as of December 31, 2024 from Rs 361.05 lakh crore ( $4.34 trillion) on December 29, 2023.
A total of 301 companies have been listed on the NSE in 2024. Of these, 90 were mainboard and 178 were SME companies. Simultaneously, 33 companies have been directly listed. In 2024, IPOs of 90 mainboard companies came.
All these companies raised a total amount of Rs 1.59 lakh crore. The average IPO size among mainboard companies stood at Rs 1,772 crore.
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