With West Asia tensions flaring again, US inflation at a three-year high, and the Fab-7 tech giants starting to crack, the global environment has turned markedly less friendly for Indian equities. Harsha Upadhyaya, Chief Investment Officer – Equity and President at Kotak AMC, spoke to ET Now to lay out how he is navigating the turbulence, sector by sector.
Upadhyaya was candid about the macro picture. The Iran-US conflict has resurged contrary to expectations, yields are rising globally, and markets that rode the AI wave higher are now unwinding some of those gains. "Everything is coming together and it is not great support for Indian markets," he said, while noting that India's limited participation in the AI-led tech rally may cushion it somewhat from a one-to-one correction if US tech sells off sharply.
