Indian Tech Stocks Drop as Combined Market Cap Shrinks to $153.6B

3 Oct 2026, 7:07 pm · 4h ago · 1 min read · Inc42

Indian new-age tech stocks faced heavy selling pressure this week, with 47 out of 66 tracked companies declining amid an eighth straight weekly fall for benchmark indices. Total sector market capitalization slid from $166.6 billion to $153.61 billion, despite Moneyview debuting at ₹55.6 on the BSE—58.9% above its issue price. Turtlemint plummeted 20.1% to ₹69.75, while PB Fintech dropped 15.66% on proposed IRDAI insurance commission changes. ESDS fell 18.54% post-Q1 results, while Swiggy, Fractal, and Nykaa also retreated. Conversely, SME-listed Zappfresh surged 22.55%, and RentoMojo and Meesho recorded gains.