Paytm emerges as the leading performer amidst a fluctuating week for modern technology stocks.

Shares of Paytm, after experiencing a significant decline over the past three weeks, rebounded strongly, emerging as the top performer with a 19.4% increase in value during the week. Among the 19 new-age tech stocks covered

eight saw declines ranging from 0.08% to nearly 8%, with RateGain experiencing the largest drop of 7.7%. In the broader market, the Sensex rose by 0.99% to close the week at 73,142.8, while the Nifty50 climbed 0.8% to reach 22,212.7. Despite mixed performances among Indian new-age tech stocks, substantial gains in some counters pushed the combined market cap of these stocks to nearly $45 billion by the week's end. Apart from Paytm, other notable gainers included Zaggle, ideaForge, and PB Fintech. Conversely, RateGain and Nazara were among the stocks that experienced declines. Market experts noted various factors influencing investor sentiment, including mixed PMI estimates, the RBI's hawkish stance, and upcoming global economic data releases. While some anticipate a pause in the market rally, driven by concerns such as rising crude oil prices and stretched valuations, others highlight the lingering pre-election momentum.

Siddhartha Khemka, head of retail research at Motilal Oswal, commented on how mixed flash estimates of Purchasing Managers’ Index (PMI) for February for both India and the US, along with the RBI's hawkish tone in its MPC meeting, impacted investor sentiment. He mentioned the likelihood of a pause in the market rally next week ahead of various global economic data releases, despite the overall positive trend. Meanwhile, Prashanth Tapse, senior VP (research) at Mehta Equities, highlighted that traders are awaiting new catalysts as the corporate earnings season draws to a close, although pre-election momentum persists in the market. Tapse also expressed concerns over factors such as rising crude oil prices, surging US bond yields, and stretched valuations, which could prompt continued selling by Foreign Institutional Investors (FIIs).

Market experts noted various factors influencing investor sentiment, including mixed PMI estimates, the RBI's hawkish stance, and upcoming global economic data releases. While some anticipate a pause in the market rally, driven by concerns such as rising crude oil prices and stretched valuations, others highlight the lingering pre-election momentum.