Forty years ago, the total market capitalisation of listed companies in the Indian stock market stood at a paltry seven per cent of gross domestic product (GDP). In 2012, the figure stood at 68 per cent.
The trajectory of the Indian stock market can broadly be divided into three distinct periods - the pre-reform era of lacklustre growth, the decade following the reforms of the early 90s, and the post-2003 era of rapid growth.
After growing for decades at what was called the "Hindu rate of growth", the reforms of the early 90s sowed the seeds of India's transition to a phase of higher growth.
Mirroring the rise in GDP growth was a sharp rise in the stock market, with total market capitalisation through the decade averaging 30 per cent of GDP.
Since 2003, India emerged as one of the fastest growing economies, with GDP growth averaging eight per cent.
The period also saw the stock market touching all-time highs, with market capitalisation rising to 147 per cent of GDP in 2007.
However, the financial crisis of 2008 resulted in a sharp correction, leading to market capitalisation through the decade averaging 75 per cent of GDP.
In absolute terms, total market capitalisation stands at Rs 92,11,243 crore as of now, against Rs 6,12,224 crore in 2001-02.
However, despite about 5,000 companies listed on Indian bourses, the top 100 still account for a significant share of the overall market capitalisation.