New-Age Tech Stocks Slump This Week As Bears Dominate Broader Market; Paytm Biggest Loser

30 Jul'23 | By Tapanjana Rudra

Ten out of the 15 new-age tech stocks under Inc42’s coverage declined this week. Paytm emerged as the biggest loser, falling 9.6% on the BSE

Fino Payments Bank rallied this week, with its shares touching their 52-week high and hitting the upper circuit on Friday. The stock emerged as the biggest gainer this week

After touching record highs last week, benchmark indices Sensex and Nifty 50 fell 0.8% to 66,160.20 and 0.5% to 19,646.05, respectively, this week

Last week’s slump in Indian new-age tech stocks continued this week as well, as the broader domestic market saw another volatile week with Q1 FY24 financial results being the major drag. Ten out of the 15 new-age tech stocks under Inc42’s coverage declined this week. Paytm emerged as the biggest loser, falling 9.6% on the BSE. PB Fintech, EaseMyTrip, Nykaa, Delhivery, and ideaForge were among the other losers this week, falling in a range of 0.4% to over 5%. However, Fino Payments B