Tech Stocks Rose This Week; MobiKwik Up 25%, PhysicsWallah 20%

Several new-age technology stocks experienced gains this week, breaking an eight-week losing streak despite a midweek sell-off. Of the 66 tracked stocks, 36 increased between 0.1% and nearly 25%, while 30 declined between 0.23% and 13.93%.

MobiKwik led the gains, rising by nearly 25% to ₹245.40, followed by PhysicsWallah (19.68%), Fino Payments Bank (8.9%), Nykaa (5.97%), and Eternal (3.14%). Several companies, including E2E Networks, Shadowfax, and SEDEMAC, reached new highs.

Key corporate developments during the week included business updates, founder share pledges, and institutional stake sales. For instance, Nykaa and Honasa projected strong revenue growth, while ideaForge's founder pledged shares for personal needs, and Ola Electric's founder participated in a rights issue.

The overall market capitalization for technology stocks saw an increase, with MobiKwik's share price boosted by a technical breakout and anticipation surrounding UPI MDR fees. Despite various companies reporting significant developments, the market showed general signs of recovery.