New Delhi, Sept. 11 -- Apple Inc., the US-listed maker of iPhones, crossed $2 trillion in market capitalization recently. The Nasdaq, an index dominated by US technology stocks, is up 50% over the past year and has seen a rise of about 20% over the last decade (excluding dividends). A recent chart tweeted by Sunil Singhania, founder of Abakkus Asset Manager LLP, showed that the share of tech stocks as a percentage of the US equity market is close to what it was during the dotcom peak.
The Financial Times called it a "K shaped" recovery in an article published on 21 June, with some sectors recovering their previous peaks and others dramatically lower.
The India market has seen a similar polarization over the past three years with the top f...