Shares of Indian new-age tech startups, which have been under pressure for the past few months, fell on December 22 along with the rest of the Indian stock market as investors grew wary due to concerns about an increase in Covid-19 cases across the nation.

During intraday trading on the BSE, shares of the young beauty e-commerce company Nykaa fell as much as 3.2% to a new record low of INR 147.65. Investors were on edge after four new cases of Omicron subvariant BF.7, which is causing an increase in infections in China, were discovered in India. Nifty50 and Sensex, two benchmark indices, also decreased by about 0.4% each, reaching 18,127.35 and 60,826.22, respectively.

Shares of Indian new-age tech startups, which have been under pressure for the past few months, fell on December 22 along with the rest of the Indian stock market as investors grew wary due to concerns about an increase in Covid-19 cases across the nation.

During intraday trading on the BSE, shares of the young beauty e-commerce company Nykaa fell as much as 3.2% to a new record low of INR 147.65. Investors were on edge after four new cases of Omicron subvariant BF.7, which is causing an increase in infections in China, were discovered in India. Nifty50 and Sensex, two benchmark indices, also decreased by about 0.4% each, reaching 18,127.35 and 60,826.22, respectively.