Zomato Shares Jump 5% On Positive Sentiment, Nykaa Surges 7%

Zomato Shares Jump 5% On Positive Sentiment, Nykaa Surges 7%

SUMMARY

Shares of Zomato gained as much as 7.8% to touch a high of INR 73.2 during the intraday trading on the BSE

Zomato’s upbeat Q4 results and its profitability target seems to have restored the confidence in its investors

In line with the rise in the broader market due positive global cues, shares of Nykaa and Paytm also jumped on Friday

Zomato seems to have left bad days behind, as the stock, which was one of the worst hits among the new-age tech companies in 2022, is on an upward trajectory now.

In a sharp jump on Friday (May 2), shares of Zomato gained as much as 7.8% to touch a high of INR 73.2 during the intraday trading on the BSE. Later, the stock gave up some of the gains and closed the session at nearly a seven-month high of INR 71.19, up around 5% from Thursday’s close. 

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