It may be recalled that BSE shifted 179 scrips (a majority of them belongs to IT) from B2 to B1 group with effect from January 22. Besides the bullish sentiments, this move has also aided the current uptrend. Some such scrips whose market capitalisation has improved upto 55 per cent over the week include Aztec Software, Geometric Software, LCC Infotech, Sarita Software and World Tech.

According to marketmen, the rally has broadened due to a consistent rise in Nasdaq due to better than expected financial results of Microsoft and Apple and expectation of US government lifting sanctions against India. An overall re-rating of software stocks and excellent quarterly results from Wipro, Satyam Computers, HCL Technologies, Infosys and Hughes Software also improved the sentiments.

While A group stocks are the immediate beneficiaries, the rally seems to have precipitated to most counters in the B1 and B2 group. More with 88 per cent B1 group scrips were quoting at higher prices than their week-ago values. Half of these (42 scrips) were even trading above their month-ago prices. Major gainers included Hughes Software, HCL Technologies, Visualsoft and Aftek Infotech. In the B2 group, 67 out of 88 scrips gained as on January 23. Those which are quoting above December 22 level are about 27 per cent as on the same date.

Krone Communications, which was trading at its 52-week low at Rs 156.60 on January 17 saw its volumes zoom from 1355 shares to 37089 shares on January 23. The scrip also gained over 46 per cent during the period to touch Rs 229.55 over the period. Some of the stocks from B2 group whose volumes have more than doubled over the week included Monalisa and Soffia Software while Polaris Software's volumes increased by 150 percent. Low priced counters like SRG Infotec, Datapro, Uniport Computers and Alps Info are also witnessing better volumes over the same period.

In the forward group, about 92 per cent scrips were quoting higher on January 23 compared to January 17. Apart from Silverline Technologies and Pentamedia Graphics, the rest 10 stocks have made capital gains above their December 22, 2000 close. HCL Infosys was the only scrip to quote below its week-ago and month-ago prices. ``The scrip is stagnating around Rs 206-level. Both Silverline and Pentamedia seem to have lost investor fancy during the current rally on account of expectations of slowdown in future earnings,'' according to a noted Delhi-based broker.