New Delhi: Notwithstanding the recent bloodbath on the bourses, 20 software scrips have posted impressive gains in the past one month. Riding against the wave, these IT stocks have gained on an average 34.68 per cent since September 22. Compare this gain with BSE Sensex which has fallen 9.5 per cent during this period.Interestingly, a majority of the gainers are small software players and are not market movers. These stocks have also very low market capitalisation. For intance, Nexus Software has zoomed 260 per cent in the past one month and is currently quoting near its 52-week high. Nexus rose from Rs 10.75 to the current level of Rs 38.75.
Second in the list, Integrated Technologies' stock has increased by 58 per cent from Rs 4.75 to Rs 7.5. Citicorp Securities has gained 25 per cent during the past one month from Rs 127 to Rs 158.
A-group stocks are the biggest beneficiary, in terms of percentage of shares rising, with three out of nine scrips posting gains upto 14 per cent. On the back of impressive quarterly results, Digital Equipments, NIIT and Infosys Technologies have attracted some buying support, especially during the last one week. Market heavyweight Infosys Technologies gained 10 per cent in the last one week. In the past one month, Digital Equipment and NIIT have gained 6 and 14 per cent respectively.
Of the B1 group stocks, only three out of 42 showed gains during a month. Apart from Citicorp Securities, HCL Technologies and Tata Infotech have gained 5 per cent and 3.5 per cent respectively.
In the B2 group, consisting of 108 software scrips, 14 shares showed gains in the region of 8 to 240 per cent in the past one month. This was about 13 per cent of the traded scrips in this sector.
The markets have seen a declining trend since September 12 when the BSE Sensex peaked 4763.63 points. The IT stocks have led the downfall which covered most of the stocks in this sector.
These stocks have made most of the gains in the last one week when the market lost its sense of direction, moving in a trading zone. However, shares like Telesys, Integrated Hitech and Integrated Technologies have fallen during this period.
Overall, about 30 per cent of the scrips have gained during the last one week as against 12 per cent which improved over the last month's closing rate.
Even in the A-group scrips, the number of gainers has doubled during the last week. While three scrips have increased over the last one month, the last week has seen six gainers.
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