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Largest stock exchanges worldwide by market cap: Presently, there are approximately 60 prominent stock exchanges around the globe, playing a significant role in shaping financial markets through the facilitation of trading, investments, and economic development.
Notably, the top 10 largest stock exchanges collectively possess a market capitalisation of $102,360,634.92 million, as reported by the World Federation of Exchanges (WFE) in December 2024.
The New York Stock Exchange (NYSE) and the National Association of Securities Dealers Automated Quotations (Nasdaq), both situated in the United States, stand out as the two largest exchanges, commanding a significant share of the international market.
Together, they hold a combined market cap of $62,185,685.32 million and feature listings from some of the most valuable companies globally, including giants like Apple, Microsoft, and Nvidia.
With the rapid economic growth of emerging markets such as India, China, and Japan, Asian stock exchanges are witnessing considerable expansion and are outpacing major European exchanges, with Euronext now occupying the sixth position among the world’s top 10 stock exchanges.
Euronext is the largest stock exchange in Europe and operates regulated markets for securities and derivatives across key European cities, including Amsterdam, Brussels, Dublin, Milan, Paris, Lisbon, and Oslo, listing prestigious firms like Capgemini, L’Oréal, and Sanofi.
The World Federation of Exchanges (WFE), in the February 2025 edition, provided data from December 2024 on the market capitalization of major stock exchanges worldwide, highlighting the top 10.
| Rank | Stock Exchange | Country/Region | Market Capitalization (in USD, million) |
| 1 | New York Stock Exchange (NYSE) | USA | $31,576,034.06 |
| 2 | NASDAQ | USA | $30,609,651.26 |
| 3 | Shanghai Stock Exchange (SSE) | China | $7,186,252.60 |
| 4 | Japan Exchange Group (Tokyo Stock Exchange) | Japan | $6,556,559.86 |
| 5 | National Stock Exchange of India (NSE) | India | $5,696,539.30 |
| 6 | Euronext | Pan-European | $5,441,764.34 |
| 7 | Hong Kong Exchanges and Clearing (HKEX) | Hong Kong | $4,549,720.76 |
| 8 | Shenzhen Stock Exchange (SZSE) | China | $4,528,666.82 |
| 9 | TMX Group (Toronto Stock Exchange) | Canada | $3,550,654.58 |
| 10 | Saudi Exchange (Tadawul) | Saudi Arabia | $2,664,791.34 |
Source: WFE
Please note: The above data correspond to the equity domestic market capitalisation values provided by the World Federation of Exchanges (WFE) for December 2024. The market capitalizations are subject to change as stock values fluctuate.
India’s stock market has risen to prominence within the global financial landscape. The National Stock Exchange (NSE), the fifth-largest exchange worldwide by market cap, includes 50 leading Indian firms such as Infosys, ICICI Bank, and Larsen & Toubro, transforming India’s trading framework.
In 2024, the Bombay Stock Exchange (BSE), one of the oldest stock exchanges in Asia, achieved a significant milestone by reaching a market capitalization of $5 trillion for all its listed companies, featuring renowned companies like Reliance Industries, Tata Consultancy Services, Cipla, and Nestlé India.
India is the fifth-largest country globally in terms of market capitalization, trailing behind the United States ($55 trillion), China ($9 trillion), Japan ($6.1 trillion), and Hong Kong ($5.5 trillion).
