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New Age Stocks: The stock market has been going through a correction phase, with several new-age stocks witnessing sharp selling in the first half of January. Amid global uncertainties, stocks of companies like FirstCry, MobiKwik, and Ixigo have seen notable declines. As the Sensex and Nifty experience drops, investors are closely watching these developments. Let's take a closer look at how some of the new-age stocks have fared.
MobiKwik, a major player in the fintech industry, has seen a significant dip in its stock price. The share price fell by 23.07% to Rs 456, a sharp contrast to its listing price of Rs 698.30 in December 2024. Similarly, FirstCry, a leading e-commerce platform catering to mother and child products, has faced a 24.82% drop in stock value, currently standing at Rs 489. These losses reflect the tough conditions for new-age stocks in the current market.
Several other companies in the new-age stock category have faced significant declines. PB Fintech, the parent company of Policybazaar, has seen its stock price fall by 18.71%, now trading at Rs 1724. Le Travenues Technology, which owns the online travel aggregator Ixigo, has experienced a 20.63% decrease, with shares currently priced at Rs 142.
In the food delivery and quick commerce space, Zomato and Swiggy have also been impacted. Zomato’s stock has declined by 10.38%, now priced at Rs 247, while Swiggy's stock dropped 12.75%, trading at Rs 473. Additionally, the stock of Go Digit General Insurance, a new-age insurance company, has fallen by 11.76% to Rs 288. Paytm, a fintech giant, has also seen a loss of more than 9%, currently priced at Rs 897.
The broader stock market has not been immune to these declines. The Sensex has fallen by 2.42%, and the Nifty has dropped by 2.30% since the start of January. Experts suggest that the correction in the stock market is influenced by global instability, including tariff threats from the US, as well as the high valuations of Indian stocks. Furthermore, there is growing concern that the third-quarter financial results for FY 2024-25 could be weaker than expected, contributing to the downturn in the stock market and the sell-off in new-age stocks.