Whereas the bulls dominated the Indian equities marketplace for the third consecutive week, new-age tech shares continued to see a blended investor response. Eighteen out of the 37 new-age tech shares below Inc42’s protection ended the week with beneficial properties in a spread of 0.40% to about 10%, whereas 19 shares declined in a spread of 0.22% to over 8%. 

Amid this, City Firm and DevX make their public market debut this week, turning into the newest addition to Inc42’s new-age tech shares listing. Whereas City Firm’s shares gained considerably after itemizing with a premium, DevX’s public itemizing bid was muted. 

After itemizing on Wednesday (September 17) at INR 61.30 on the BSE, DevX’s shares touched decrease circuit within the two subsequent buying and selling days. The inventory closed the week 5% decrease from the itemizing worth at INR 58.10. 

With the addition of the aforementioned corporations, the full market cap of the 39 new-age tech corporations stood at $110.28 Bn. Minus the market cap of City Firm and DevX, the cumulative market cap of 37 corporations stood at $107.2 Bn, a slight uptick from $105.36 Bn market cap final week. 

Swiggy topped the listing of gainers this week, rising 9.80% to finish the week at INR 461.20. 

The second greatest gainer was Awfis, with its shares rallied persistently all through the week after it introduced including eBay to its listing of GCC shoppers on Tuesday (September 16). The corporate mentioned that it has enabled eBay’s foray into Bengaluru with a 67,000 sq. ft. innovation hub. The inventory ended the week 9.03% increased at INR 617.65. 

BSE SME-listed Veefin was the third greatest gainer this week, with its shares hovering 8.89% to finish the week at INR 406.10. On Monday (September 15), the corporate’s board accredited a proposal to lift INR 94.1 Cr by issuing recent fairness shares and convertible warrants.

Later within the week, the fintech SaaS firm introduced partnerships with over 15 main fintechs and enterprises to ship digital lending and API infrastructure options to them, reinforcing the bullish investor sentiment. 

Amid the listing of gainers, Smartworks, IndiQube, Everlasting and Delhivery touched recent 52-week highs this week. 

In the meantime, revenue reserving impacted the likes of Yatra, ixigo and BlackBuck, which gained sharply within the previous weeks.

Yatra topped the listing of losers this week, with its shares crashing 8.31% to finish at INR 151.75. To notice, Yatra’s shares touched an all-time excessive of INR 173.80 on September 12. 

Equally, ixigo additionally witnessed a bearish investor sentiment this week after touching an all-time excessive of INR 329.90 on September 12. ixigo was the second greatest loser this week, with its shares declining 7.79% to shut at INR 285.25. 

Dronetech firm DroneAcharya was the third greatest loser, with its shares falling 6.62% to INR 64.04. 

Now, let’s check out the efficiency of the broader market this week. 

Commerce Optimism, Fed Price Minimize Gasoline Third Week of Positive factors

The benchmark indices prolonged their successful streak for the third consecutive week, buoyed by supportive international cues and resilient home flows.

The Nifty 50 superior 0.95% to shut at 25,327.05, whereas Sensex gained 0.88% to settle at 82,626.23.

Sentiment was additional lifted by the US Federal Reserve’s first price lower of 2025, renewed optimism round India-US commerce negotiations, and Crisil’s softer FY26 inflation forecast of three.2%, which strengthened expectations of one other price lower by the RBI later this 12 months.

Strong home institutional inflows helped cushion promoting stress from FIIs, whereas valuation self-discipline was evident in revenue reserving of overvalued counters and renewed curiosity in PSU banks.

On the technical charts, Nifty 50 held agency above the 25,000 psychological mark and now faces resistance close to 25,500, with scope to check 25,750 on a breakout. On the draw back, the 24,900-25,150 vary is seen as sturdy assist.

“Indian equities closed the week on a agency observe, supported by broad-based beneficial properties and sturdy home inflows. With GST rationalisation set to take impact subsequent week and festive demand strengthening, consumption-driven sectors look properly positioned,” mentioned Vinod Nair, head of analysis at Geojit Monetary Providers.

Ajit Mishra, SVP of analysis at Religare Broking, mentioned that the resumption of India-US commerce talks and the Fed’s price lower bolstered sentiment, however international uncertainty lingers. “Buyers ought to keep optimistic but cautious, with a buy-on-dips technique in cyclicals like autos and metals, whereas retaining defensives as stabilisers,” he added.

Subsequent week, markets will react to US President Donald Trump’s government order imposing an annual charge on H-1B visas, which might weigh on IT corporations. Domestically, PMI information, which is due on September 23, and weekly banking/foreign exchange information on September 26 might be carefully watched, alongside US GDP, jobless claims, and core inflation prints for cues on the Fed’s path. 

Now, let’s deep dive into Swiggy and City Firm’s efficiency this week.

Swiggy’s Experiment Streak Goes On

Shares of Swiggy gained 9.80% to finish the week at INR 461.20. Whereas the inventory is now up about 12% from its itemizing worth, it’s nonetheless down over 13% 12 months thus far. 

This week, the corporate launched a brand new meals supply app, ‘toing’, in choose areas in Pune, aiming to supply inexpensive meals priced below INR 250. The transfer is a part of Swiggy’s technique to diversify its choices and faucet into the value-conscious shopper section. 

Notably, Swiggy’s meals supply vertical has been seeing muted development in comparison with the speedy surge in its fast commerce enterprise Instamart.

The income of Swiggy’s meals supply vertical rose 19% YoY to INR 1,800 Cr in Q1 FY26, whereas its revenue rose 200% YoY to INR 202 Cr. The corporate, in its Q1 shareholders’ letter, mentioned it can proceed to concentrate on new improvements “to create new buyer propositions which may open up the market additional”. 

Total, Swiggy’s loss ballooned 96% YoY to INR 1,197 Cr within the June quarter, whereas working income surged 54% YoY to INR 4,961 Cr. 

City Firm’s Stellar First Week On The Dalal Road

Hyperlocal shopper companies unicorn City Firm made a blockbuster debut on the bourses this week after its IPO closed with an oversubscription of a whopping 103.6X within the earlier week. The corporate’s shares obtained listed at INR 161 on the BSE, a premium of 56.3% to the problem worth. 

The inventory closed the week at INR 185.10, up 80% above the problem worth and 15% from the itemizing worth. 

Analysts had been optimistic on City Firm’s IPO. ICICI Direct, in its IPO observe, really useful subscribing for the long run, highlighting the corporate’s sturdy enterprise mannequin and management within the residence companies sector.

Nevertheless, it suggested buyers to concentrate on the long-term funding horizon, given the corporate’s present valuation metrics. 

Different brokerages like Hem Securities, Deven Choksey and Ventura had been additionally optimistic in regards to the firm.

Wanting forward, the corporate plans to utilise the IPO proceeds for technological developments, geographic growth, and enhancing service choices to strengthen its place within the quickly rising residence companies market.

[Edited by: Vinaykumar Rai]