The top gainers, including PSI Data Systems, SSI Ltd and Citicorp Securities, are those who were relatively insulated from the FII-inspired hammering. For example, although PSI Data has appreciated by over 22 per cent to Rs 679.35, a closer look will reveal that the stock fell by a minuscule 2.4 per cent in the days when the market took a beating. Similarly, SSI Ltd has risen to Rs 999.6 after seeing a very minor correction of 2.46 per cent.

The real winners are the two infotech heavyweights - Infosys Technologies and Satyam Computers. Hectic buying by funds and operators in the last four days has seen Infosys shoot past its October 14 level of Rs 7974 and has crossed the Rs 8000-mark. The recovery is remarkable considering that the stock had been hammered by around 17 per cent. Similarly, Satyam Computers is back to Rs 1500 plus level after touching Rs 1100. Clearly, at current valuations, punters couldn't resist the temptation to buy these fancied scrips.

``That FIIs were selling in these counters owing to Y2K fears and a slowdown in the business growth has proved to be wrong. The fall is the IT stocks was as a result of profit-booking at higher levels. Now that the valuations have turned attractive once again, buying has resumed,'' says a broker, adding that the rally in the infotech stocks will gather momentum in the coming days as result of ware-housing for foreign institutions.