Reported losses of market capitalization of six of the top tech companies in the world by a whopping $5.6 trillion makes for grim reading. Amazon, Alphabet, Apple, Microsoft, Meta and Tesla have now only 13% weightage in the S&P 500 compared to 19% earlier. Fears of a recession, and higher interest rates in the US has led to this scenario. The world’s richest man’s companies have lost during the year $109 billion in value, which is an unprecedented figure.
However, in India such a scenario has not happened yet and it would be prudent for top Indian companies to traverse the present high interest rates regime with caution, while navigating ahead so as to maintain performance that can tide over the economic slide with pragmatic policies under the present conditions.
As yet the companies consisting of the major indices such as the Sensex and the Nifty have remained quite firm and less susceptible to what may be termed as a global phenomenon mainly due to the geo-political atmosphere.
