Synopsis
While the Nasdaq is still recovering from last year’s massive fall and has stayed flat over the last six months, the Nifty IT index has gained 8%. From a six-month perspective, the index has been an outperformer among most domestic peers on the back of better-than-expected December-quarter results.
It’s a question that has divided market experts into two camps. If the global gross domestic product (GDP) slows down, will it affect the IT spending by top companies? While a low-growth, high interest-rate scenario has historically impacted IT spending and the huge sell-off in tech stocks last year highlight this concern, the last six months have a different story to tell. More importantly, investors have been looking at IT stocks in a new
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