The Indian equities market experienced a robust rally this week, largely driven by the announcement of a temporary ceasefire between the US-Israel and Iran. This geopolitical shift sparked increased buying interest in new-age tech stocks.
Out of 55 new-age tech companies, 52 saw their shares rise, with gains ranging from 0.63% to an impressive 44%. Notably, Ola Electric emerged as the standout performer, with a 44.27% increase, closing at ₹40.9. Other companies like Groww, Shadowfax, Ather Energy, Honasa Consumer, and Lenskart also reached new highs.
In contrast, Swiggy, Go Digit, and Macobs Technologies recorded slight declines. Larger firms such as Nykaa, Delhivery, and Meesho also ended the week positively.
This week marked the inclusion of Mobavenue AI Tech, an adtech company, in market coverage. The Mumbai-based firm's shares rose by 1.66%, closing at ₹1,210.8.
Overall, new-age tech stocks collectively gained approximately $10 billion in market capitalization, bringing the total to $129.09 billion.
Market Trends and Developments
The announcement of a 15-day ceasefire in West Asia bolstered investor confidence, leading to a decline in crude oil prices below $100. This eased inflation fears and resulted in a strong rebound across global markets.
However, the unpredictable nature of the geopolitical situation tempered the pace of gains as the week progressed. The Sensex and Nifty 50 indices both gained nearly 6%, closing at 77,550.25 and 24,050.6, respectively.
The Reserve Bank of India's Monetary Policy Committee maintained the repo rate at 5.25%, emphasizing a neutral stance. The central bank also adjusted its GDP growth projections for FY26 to 7.6% and FY27 to 6.9%, while raising inflation forecasts to 4.6% for FY27, citing risks from high energy prices and potential weather disruptions.
Highlights from Key Players
Ola Electric's shares surged over 44% this week, following a significant recovery from lows earlier in the year. The company's improved performance in the electric two-wheeler market, with daily orders surpassing 1,000 units, contributed to this rise. Furthermore, announcements regarding the readiness of its new Lithium-Iron-Phosphate (LFP) cell for deployment at its Gigafactory fueled investor interest.
Honasa Consumer, the parent company of Mamaearth, saw its shares increase by 13.05%, reaching a new 52-week high. The company anticipates growth in the early twenties for Q4 FY26, driven by strong performance across its brands.
Key Takeaways:
- New-age tech stocks gained $10 billion in market value this week.
- Ola Electric and Honasa Consumer were among the top performers.
- The broader market rally was influenced by geopolitical developments and monetary policy stability.
