Fifteen of the 28 new-age tech stocks under Inc42’s coverage fell in a range of 0.3% to 10% during the week, with Unicommerce being the biggest loser
NSE Emerge-listed TAC Infosec emerged as the biggest gainer this week, with its shares rallying 10.6%. CarTrade, Mamaearth, Nykaa, Zomato, Awfis, and TBO Tek were among the other gainers
Sensex fell 1.43% to end the week at 81,183.93 and Nifty 50 declined 1.52% to end at 24,852.15 amid global volatility
Indian new-age tech stocks saw a mixed week on the bourses amid a slump in the broader domestic equities market due to global market volatility.Among the other 12 gainers during the week were CarTrade, Mamaearth, Nykaa, Zomato, Awfis, and TBO Tek, with their shares rising in the range of 2% to 7%.Meanwhile, Siddhartha Khemka, head of research, wealth management, at Motilal Oswal, said that the domestic equities experienced the most significant single-day decline over the past month on Friday due to concerns over a potential slowdown in the US labour market. With a sharp decline of a little over 10% during the week, the SaaS startup turned out to be the biggest loser. Unicommerce shares ended the week at INR 197.25 on the BSE.Besides, it also said, “Quick commerce is reshaping India’s retail supply chain by flattening distribution, giving new brands increased visibility and price competitiveness. Blinkit’s parent Zomato will be the largest listed beneficiary, while staples marketers Marico and Hindustan Unilever face risks as their distribution advantage erodes.”
Fifteen of the 28 new-age tech stocks under Inc42’s coverage fell in a range of 0.3% to 10% during the week, with Unicommerce emerging as the biggest loser.