New-Age Tech Stocks Lose Over $2 Bn In M-Cap Amid Bloodbath On D-Street

New-Age Tech Stocks Lose Over $2 Bn In M-Cap Amid Bloodbath On D-Street

SUMMARY

Shares of gaming major Nazara Technologies and fintech SaaS startup Zaggle declined over 7% each today

Most of the new-age tech stocks ended in the red today, with the total market capitalisation of 25 of these stocks under Inc42’s coverage falling to $65.25 Bn from about $67.91 Bn on Friday

The fall in the new-age tech stocks was in line with the rout in the global equities market, including India, amid concerns over an impending US recession, geopolitical tensions, among others

New-age tech stocks slumped on Monday (August 5) amid a sell-off in the global stock markets, which also impacted the Indian equity markets significantly.

While shares of gaming major Nazara Technologies and fintech SaaS startup Zaggle declined over 7% each today, as many as eight out of the 23 new-age tech stocks under Inc42’s coverage fell over 5% on the BSE.

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