Indian stock gained the most among the world.

Indian stocks gained the most among the world's top 10 nations by market value this fiscal, underscoring the strength of the rally that remained unshaken by Covid-led turmoil and economic uncertainties.

India's aggregate market capitalisation soared 88% in dollar terms this fiscal year, showed data from Bloomberg. This is the sharpest increase in aggregate market capitalisation since FY11.

Last fiscal year, India's market capitalisation plunged 31% as the lockdown wrecked investor sentiment. Despite the rise, India remained at the eighth position among countries with a market capitalisation of $2.8 trillion.

The US, with a market capitalisation of $45.83 trillion, and China at $10.57 trillion saw an aggregate market capitalisation expansion of 67% and 52%, respectively, from April 2020 so far. Canada ($2.89 trillion) saw a growth of 78%, while Saudi Arabia ($2.53 trillion) made the lowest gain of 28% among the top 10 markets.

Analysts said a broad-based rally in equities and a heavy flow of foreign liquidity either through foreign institutional investors (FIIs) or as foreign direct investment (FDI) accelerated the expansion of Indian markets this year.