18 Jul’22 ,Monday
NSE Nifty50 ended the week over 1% lower at 16,049.20, while BSE Sensex closed 1.3% lower at 53,760.78 on Friday
Shares of Paytm’s parent One 97 Communications surged as much as 5.7% this week to over INR 738 apiece to touch their highest levels since March 11 on the BSE
Zomato shares ended the week 1.6% lower from the previous week, and analysts expect further downside in the stock
The Indian share market continued to remain volatile this week, with the benchmark indices – NSE Nifty50 and BSE Sensex – ending lower on a week-on-week basis, shedding some of the last week’s gains. Major selling in IT and banking shares weighed heavily on the indices.
NSE Nifty50 ended the week over 1% lower at 16,049.20, while BSE Sensex closed 1.3% lower at 53,760.78 on Friday (July 15).
However, despite a steady drop in four sessions this week, the indices ended 0.69% and 0.65% higher on Friday, respectively, from Thursday’s close.
The 11 new-age internet companies listed in India after 2019 saw mixed market sentiments this week. Driven by various sector-oriented as well as business-specific factors, a majority of these stocks ended the week on a sombre note.
However, shares of Delhivery, the latest startup to list on the exchanges, rose 1.13% from Thursday’s close to INR 605.15 on Friday, while it ended 1.6% higher on a week-on-week basis.
On the other hand, shares of IndiaMART rose 1.46% to INR 3,975.75 on Friday. On a week-on-week basis, the shares of the company closed 1.82% higher.
Nykaa parent FSN E-Commerce and Paytm parent One 97 Communications closed lower on Friday compared to Thursday’s close, but on a week-on-week basis, the stocks ended higher by 0.94% at INR 1,409.25 and 1.39% at INR 708.65, respectively.
The 11 new-age tech stocks ended the week with a total market cap of around $32.48 Bn.
Paytm Shares At A Four-Month High
Shares of Paytm parent One 97 Communications surged as much as 5.7% this week to over INR 738 a piece to touch their highest levels since March 11 on the BSE. Paytm started rising since the beginning of the week, first driven by its announcement about increased loan disbursements in the June quarter of FY23.
The fintech startup said that it disbursed 8.5 Mn loans during the quarter ending June 2022, a growth of 492% on a year-on-year (YoY) basis.