New-Age Tech Stocks Tumble This Week, Swiggy Leads Sell-Off With 24.5% Fall
by Akshit Pushkarna · Inc42SUMMARY
- Sixty-three of the 67 new-age tech stocks under Inc42’s coverage declined this week, led by Swiggy’s 24.5% fall
- The sell-off extended beyond companies reporting weak results, with 63 of 67 stocks declining, showing that broader market pressures outweighed company-specific gains
- ixigo gained 1.45%, while debutants Zetwerk and Tonbo Imaging closed 13.02% and 2.44% below their respective BSE listing prices
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New-age tech stocks lost over $11 Bn in combined market capitalisation this week, with Swiggy leading a broad sell-off amid weakness in the wider Indian equity market.
Of the 67 stocks under Inc42’s coverage before this week’s listings, 63 declined between 1.03% and 24.5%. Only Yudiz, Capillary, ixigo, and Tracxn ended the week higher.
Swiggy was the biggest loser, falling 24.5% to close at ₹176.70 after its Q2 FY27 results highlighted mounting losses at quick commerce arm Instamart. The stock touched an all-time low during intraday trade yesterday.
Twelve other stocks, including Yatra, Turtlemint, FirstCry, Unicommerce, and IndiaMART InterMESH, hit fresh 52-week lows during the holiday-shortened week.