Why Indian IT, tech stock not responding to Nasdaq rally — explained2 min read . Updated: 04 Feb 2023, 11:33 AM IST
- Nasdaq is rallying because index heavyweights Google, Meta, etc. have reported better quarterly numbers, say experts
Indian IT and some IT-enabled tech stocks are widely considered as shadow of Nasdaq index. However, such trend is not visible these days. In last one month, Nasdaq has rallied to the tune of 15 per cent but Indian IT and tech stocks have remained almost unmoved by this rally. In last one month Google share price on Nasdaq surged to the tune of 18 per cent whereas Platforms share price ascended 46 per cent in this time.
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