Market cap of top 50 APAC firms hits record $8.1 trillion in 2024, India third

New Delhi: Led by technology companies, the total market capitalisation of top 50 firms in the Asia-Pacific (APAC) region surged to $8.1 trillion in 2024, reflecting a 20.6 per cent year-on-year increase, according to a new report.

Geographically, India was third (after China and Japan) with seven companies accounting for $914 billion, according to the report by GlobalData.

The equity markets in the country soared to record highs last year, firmly establishing the nation with a market capitalisation of $5.29 trillion this year, which was the fourth largest market cap globally after the US, China and Japan. Benchmark indices Nifty and Sensex hit all-time highs of 26,277.35 and 85,978.25, respectively, last year.

“APAC markets ended 2024 on a cautious note as optimism for the new year diminished amid the rising trade risks from Donald Trump’s presidency and China’s faltering economic recovery,” said Murthy Grandhi, company profiles analyst at GlobalData.

Taiwan Semiconductor Manufacturing Company (TSMC) retains its position as APAC’s largest company, boasting a remarkable market cap of $850.3 billion, a 69.7 per cent year-on-year (YoY) growth.

According to the report, the global demand for semiconductors and Taiwan’s critical role in chip production has fuelled TSMC’s growth.

Samsung Electronics, despite ranking seventh, experienced a sharp 40.5 per cent decline in market cap, as it faced headwinds in the high-bandwidth memory (HBM) chips segment, a vital component for AI processors.

Bharti Airtel climbed to 30th spot with 52.6 per cent growth, reflecting the expansion of its digital and telecommunications services in emerging markets.

Hon Hai Precision Industry (Foxconn), known for its role in Apple’s supply chain, made a notable entry into the top 50, ranking 50th with a 65.1 per cent YoY growth, said the report.

“Equity markets in early 2025 will likely to be influenced by key policy decisions,” according to Grandhi.

NSE’s market cap increased by 21 pc to Rs 438 lakh crore in 2024

2024 has been a historic year for the Indian stock market as the market cap of the National Stock Exchange (NSE) increased by 21 per cent on YoY (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. Out of these, 90 were mainboard and 178 were SME companies. At the same time, 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 was Rs 1,772 crore.

—IANS