Indian equity market third biggest in Asia’

The Indian equity market has emerged as third biggest after China and Hong Kong in the emerging Asian region, with a market capitalisation of nearly $600 billion, a latest ADB report says. According to the Asian Development Bank's 'Asia Capital Markets Monitor'report, the combined market capitalisation of all the equity markets in the Emerging Asia region stood at $5,770 billion (about Rs 290 lakh crore) at end of March 2009. Indian equity market's capitalisation at the end of March 2009 stands at $598.3 billion (Rs 30.13 lakh crore) which accounts for about one-tenth of the combined valuation of the entire emerging Asia region. People's Republic of China is at the top of the chart with a marketcap of USD 2,347.4 billion followed by Hong Kong with $1,293.7 billion, the data compiled in the ADB report revealed.