New-age stocks: Drop in trading volumes may be the first sign of bottoming

Fear of withdrawal of easy money and lack of profits will likely weigh on these counters in the near-term

The market correction has disproportionately affected several recently listed unicorns. All the sell-offs are on high volumes and have been accompanied by some negative advisories from brokerages and FPIs.

For example, Paytm (One97) is down 57 per cent from its IPO price of Rs 2,150. PolicyBazaar (PB Fintech) is down 20.6 per cent from the IPO price (Rs 980). Zomato closed at Rs 91 and is trading at 20 per cent above its issue price (Rs 76) but it’s down 46 per cent from its high of Rs 169. Nykaa (FSN E-commerce) at Rs 1,736 is down 33 per cent from