World's Top 10 Largest Stock Exchanges in 2024, by Market Capitalization in 2024. (Source: NYSE/Getty Images/Bloomberg)
Top 10 Stock Markets in the World: The global stock exchanges are an integral part of the financial system, which has a significant impact on the global economic outlook. There are approximately 60 major stock exchanges worldwide, with the largest ones having a combined market capitalization of $116,397,310.17 trillion, according to the World Federation of Exchanges (WFE).
Notably, two of the largest stock exchanges, the New York Stock Exchange (NYSE) and the Nasdaq, both located in the United States, lead and dominate the majority of the global market by a wide margin.
The New York Stock Exchange (NYSE), with a market capitalization exceeding $27.9 trillion, is home to some of the world’s most valuable companies, including Apple, Microsoft, Nvidia, and more.
Advertisem*nt
The Nasdaq, established in 1971, follows closely behind the NYSE in terms of market capitalization. Known for its technology-heavy listings, the Nasdaq boasts a market capitalization of approximately $25.9 trillion and hosts tech giants like Alphabet (Google), Facebook, and Tesla.
With the rapid growth of emerging economies like India and China, Asian stock exchanges are experiencing significant expansion, advancing to surpass several European exchanges in 2023.
The largest stock exchange in Asia—the Shanghai Stock Exchange (SSE) in China, founded in 1990—has grown rapidly, reaching a market capitalization of over $6 trillion and having major state-owned enterprises such as PetroChina and the Industrial and Commercial Bank of China listed, thereby reflecting China’s economic ascendancy.
Additionally, India’s stock market has emerged as a significant player in the global financial arena, as the country witnesses rapid economic growth and increasing investor interest. One of the oldest stock exchanges in the world—Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) are the primary stock exchanges in India.
Advertisem*nt
India’s largest and fifth largest world stock exchanges by market cap, the National Stock Exchange (NSE), with a market cap of around $5 trillion, comprises 50 of the largest Indian companies, like Infosys, ICICI Bank, Larsen & Toubro, and more, has thereby revolutionised the trading system in India.
In essence, the significant market capitalizations and the presence of influential companies in these stock exchanges have crucial roles in global finance, reflecting the economy of their regions and driving investment and growth worldwide.
What is a stock exchange?
National Stock Exchange (NSE) building in Mumbai (Reuters/file)
A stock exchange is a centralised marketplace where securities such as stocks, bonds, and derivatives are bought and sold by investors.
It serves as a platform for companies to raise capital by issuing shares to the public and for investors to trade these shares, thereby playing a crucial role in the economy by facilitating capital formation, providing liquidity to investors, and serving as a barometer of economic conditions.
Advertisem*nt
Top 10 largest stock exchanges in the world, according to their market capitalization in 2024:
| Rank | Exchange name | Country | Domestic market cap (in trillion dollars) |
| 1 | New York Stock Exchange (NYSE) | USA | $27,876,292.90 |
| 2 | Nasdaq | USA | $25,914,307.90 |
| 3 | Japan Exchange Group | Japan | $6,246,074.78 |
| 4 | Shanghai Stock Exchange | China | $6,350,622.64 |
| 5 | National Stock Exchange (NSE) of India | India | $5,055,163.02 |
| 6 | Euronext | Europe | $7,148,962.99 |
| 7 | Hong Kong Exchanges and Clearing | Hong Kong | $4,115,775.02 |
| 8 | Shenzhen Stock Exchange | China | $3,821,844.20 |
| 9 | Toronto Stock Exchange (TMX Group) | Canada | $3,194,035.69 |
| 10 | Korea Exchange | South Korea | $1,947,717.56 |
Source: World Federation of Exchanges (WFE)
Please note: These figures reflect the equity domestic market capitalization values reported by the World Federation of Exchanges (WFE) in June 2024. They are subject to change due to the inherent fluctuations in stock prices.
