New-age tech stocks rise this week as MobiKwik jumps 25%
In short
Most new-age tech stocks rose this week. MobiKwik jumped 25% and PhysicsWallah gained 20%, while benchmark indices ended an eight-week losing streak.
This matters for investors in these stocks because the sector bounced back, even after a midweek sell-off. The report does not say which other companies moved or how the week ended exactly.
What the reporting says
Most new-age tech stocks gained this week, with MobiKwik surging 25% and PhysicsWallah rising 20%, according to the publisher summary. The move came as benchmark indices snapped an eight-week losing streak, despite a midweek sell-off. The immediate consequence is a broad rebound in the segment; the report does not state the full list of stocks or whether the gains held at the close.
Why it matters
The week saw a rebound in new-age tech stocks, with MobiKwik up 25% and PhysicsWallah up 20% as benchmark indices snapped an eight-week losing streak. The move suggests improving sentiment in the segment, even though a midweek sell-off still occurred. The reporting does not identify every stock involved or give a driver beyond the broader market recovery.