New-Age Tech Stocks Tumble This Week, Swiggy Leads Sell-Off With 24.5% Fall

This week, new-age tech stocks saw a combined market capitalization drop of over $11 billion, as Swiggy led the sell-off amid broader weakness in the Indian equity market. Out of the 67 stocks analyzed by Inc42 prior to this week, 63 experienced declines ranging from 1.03% to 24.5%, with only Yudiz, Capillary, ixigo, and Tracxn posting gains.

Swiggy suffered the largest loss, falling 24.5% to close at ₹176.70 following disappointing Q2 FY27 results that highlighted mounting losses at its Instamart quick commerce arm. The stock reached an all-time low during intraday trading. Additionally, 12 other companies, including Yatra, Turtlemint, FirstCry, Unicommerce, and IndiaMART InterMESH, hit new 52-week lows during the shortened holiday week.

The selling spilled over to Eternal, Ola Electric, Paytm, and Lenskart, causing the combined market capitalization of these 67 companies to fall to $149.2 billion. Meanwhile, new public offerings Zetwerk and Tonbo Imaging faced pressure after listing, closing 13.02% and 2.44% below their BSE listing prices, respectively.