India’s stock market achieved a new milestone with BSE’s market capitalisation crossing Rs 150 lakh crore for the first time. The stock market rally and record listings helped the country’s market value grow by 49 per cent — the highest worldwide.While the Sensex has risen 27 per cent so far this year, several big-ticket initial public offerings have contributed to the increase in the total market value. IPOs alone have added Rs 6.4 lakh crore to the market cap this year. Companies such as HDFC Standard Life, Avenue Supermarts, SBI Life Insurance, General Insurance and New India Assurance, with market values between Rs 50,000 crore to Rs 75,000 crore, were among the top listings in 2017. The rally in the country’s most valuable company Reliance Industries added Rs 2.2 lakh crore to the market capitalisation so far this year.India’s market capitalisation-togross domestic product (GDP) ratio crossed 100 per cent on Friday after five years. During the peak of 2007, the ratio was 150 per cent. “Though Indian markets are not cheap, India’s market cap-to-GDP ratio, which is much below the peak of 2007, gives us a little comfort,” said Raamdeo Agrawal, joint MD, Motilal Oswal Financial Serives.South Korea witnessed the second highest growth in market cap in 2017 so far at 39 per cent. Market value of Italian companies grew 36 per cent. Market cap of countries like Hong Kong, South Africa, France and Germany have grown by about 30 per cent in 2017.