Indian bourses have outpaced those in developed countries in terms of growth in market value in one year ended July 2007, but still lag behind equity markets in the world's fastest growing economy -- China.
The credit for this goes to the sharp rise in the share prices and market capitalisation of companies listed on the country's two stock exchanges -- National Stock Exchange and Bombay Stock Exchange, which have emerged as the world's seventh and eighth fastest growing bourses over the period.
According to the data compiled by the World Federation of Exchanges, the list of fastest growing exchanges in the world is topped by the two bourses in China -- Shanghai Stock Exchange and Shenzen Stock Exchange.
NSE recorded a one-year growth of about 98 per cent in the total market cap of all companies listed on it, while moving up two positions from its ninth rank in June. BSE also moved up three places from 11th rank in the previous month with a rise of 93 per cent in the total market cap.
China's Shanghai and Shenzen Stock Exchanges have retained their first and second positions with their market capitalisations surging by 359 per cent and 293 per cent respectively in one year ended July.
The Chinese bourses are followed by Cyprus, Ljublijana, Lima and Mauritius Stock exchanges.
Meanwhile, NSE has emerged as the world's second-fastest growing bourse in terms of the number of companies listed on it, moving two slots up from the third-fastest at the end of June. BSE has retained its position as the biggest bourse with as much as 4,853 listed companies.