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.
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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.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
