$10 Bn Wiped Off! New-Age Tech Stocks Bleed Amid Broader Market Slump

by · Inc42

SUMMARY

  • Barring Menhood, IndiaMART, Nykaa, MapmyIndia and Yudiz, 27 of the 31 new-age tech stocks under Inc42's coverage fell in a range of 0.83% to over 16% in the second week of January
  • The total market cap of the 31 new-age tech companies under Inc42’s coverage stood at $88.38 Bn at the end of the week as against $98.68 Bn at the end of the previous week
  • Unicommerce,Tracxn and DroneAcharya touched fresh all-time lows this week
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New-age tech stocks slumped and saw their cumulative market capitalisation decline by $10 Bn amid a correction in the broader Indian equities market this week.

Barring Menhood, IndiaMART, Nykaa, MapmyIndia and Yudiz, 26 of the 31 new-age tech stocks under Inc42’s coverage fell in a range of 0.83% to over 16% in the second week of January. 

Kids-focussed omnichannel retailer FirstCry was the biggest loser, with its shares falling  16.35% to close at INR 538.30 this week.