New-age tech stocks experienced a challenging week as IT sell-offs continued to impact the market. The ‘India AI Impact Summit 2026’ showcased tech innovations, but 36 out of 52 new-age tech companies saw declines ranging from 0.02% to nearly 20% between February 16-20. Companies like FirstCry and Zaggle were hit the hardest, with their shares dropping to new lows. Additionally, shares of Capillary Technologies, WeWork India, BlueStone, Awfis, and MapmyIndia also reached new lows.
Investors maintained cautious attitudes towards recently listed companies Aye Finance and Fractal, as their shares fell below IPO prices post-listing. Despite this, the cumulative market cap of 54 new-age tech companies reached $143.18 billion by the week’s end, with notable performers like EaseMyTrip seeing a 40.7% surge in their stock value. Amagi also achieved a record high share price during the week.
These fluctuations underscore the volatility in the new-age tech stock market and the impact of external factors like IT sell-offs on investor sentiment. Observing how companies navigate these challenges and capitalize on opportunities, such as EaseMyTrip’s significant gains, will be crucial for tech enthusiasts and investors alike.
Source: Inc42 Media