The total market capitalization of BSE-listed companies briefly surpassed $5 trillion for the first time on May 21, 2024, before settling just below at $4.97 trillion. This rapid growth, adding $1 trillion in just six months since November 2023, reflects a strong bull market driven by gains in BSE midcap and smallcap indices. Despite election and global uncertainties, Indian equities have surged, with significant contributions from public sector undertakings (PSUs). India's market cap-to-GDP ratio now exceeds 150%, highlighting robust investor confidence and economic reforms.