Record Market Capitalization of Leading 50 APAC Corporations Reaches $8.1 Trillion in 2024, India Secures Third Position
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New Delhi, January 12 (NationPress) — Driven by technology enterprises, the overall market capitalization of the leading 50 corporations in the Asia-Pacific (APAC) area soared to $8.1 trillion in 2024, indicating a substantial 20.6 percent increase compared to the previous year, according to a recent analysis.
In terms of geography, India ranked third, following China and Japan, with seven companies representing a combined value of $914 billion, as highlighted in the report by GlobalData.
The Indian equity markets achieved record highs last year, firmly positioning the nation with a market capitalization of $5.29 trillion in 2024, making it the fourth largest globally, after the US, China, and Japan. The benchmark indices, Nifty and Sensex, reached unprecedented peaks of 26,277.35 and 85,978.25, respectively, last year.
“The APAC markets concluded 2024 on a cautious note as optimism for the forthcoming year waned due to escalating trade uncertainties stemming from Donald Trump’s presidency and China’s struggling economic recovery,” stated Murthy Grandhi, a company profiles analyst at GlobalData.
The Taiwan Semiconductor Manufacturing Company (TSMC) continues to hold its title as the largest company in APAC, boasting an impressive market cap of $850.3 billion, reflecting a remarkable 69.7 percent year-on-year (YoY) growth.
As per the report, the global appetite for semiconductors and Taiwan’s pivotal role in chip manufacturing have significantly contributed to TSMC’s expansion.
Samsung Electronics, despite being ranked seventh, faced a sharp decline of 40.5 percent in market cap due to challenges in the high-bandwidth memory (HBM) chips sector, which is essential for AI processors.
Bharti Airtel ascended to the 30th position with a growth of 52.6 percent, underscoring the growth of its digital and telecom services in emerging markets.
Hon Hai Precision Industry (Foxconn), recognized for its involvement in Apple’s supply chain, made a significant entry into the top 50, landing in the 50th spot with a 65.1 percent YoY growth, according to the report.
“The equity markets at the beginning of 2025 are likely to be swayed by critical policy decisions,” Grandhi noted.
The market capitalization of the NSE rose by 21 percent, reaching Rs 438 lakh crore in 2024.
2024 marked a historic period for the Indian stock market, as the NSE market cap grew by 21 percent year-on-year to Rs 438.9 lakh crore ($5.13 trillion) as of December 31, 2024, compared to Rs 361.05 lakh crore ($4.34 trillion) on December 29, 2023.
A total of 301 companies were listed on the NSE during 2024, including 90 from the mainboard and 178 from the SME segment. Furthermore, 33 companies made direct listings.
In 2024, 90 mainboard companies launched IPOs, collectively raising Rs 1.59 lakh crore. The average IPO size among these companies was Rs 1,772 crore.
