Frontline IT stocks hit fresh 52-week highs

The Infosys result-effect seems to continue for the IT sector as a whole with a host of frontline IT stocks touching fresh 52-week highs on the NSE today.

The overall positive sentiment rubbed off on the smaller IT stocks as well with one of them reaching fresh 52-week high while a few others came close to breaching their previous best.

Infosys was the biggest gainer in terms of value, zooming by Rs 103.80 to a new high of Rs 3,655.50. TCS touched a yearly high of Rs 2,344.55, before easing to Rs 2336.20, a gain of Rs 55.30.

HCL Tech jumped to a new 52-week high of Rs 1,330.90 before moving lower to Rs 1,328.85 and Tech Mahindra touched a yearly high of Rs 1,905 before edging slightly down to Rs 1,899.25. Wipr o also reached a 52-week high of Rs 568 before slipping down to Rs 564.45.

Vakrangee was another stock to touch a new high of Rs 93.25.

There were a large number of relatively smaller IT stocks that also came close to touching a new high including Persistent Systems, Rolta, Polaris and Hexaware.

The CNX IT index was up by about 220 points and the powerful show of the IT stocks contributed to the overall lift in the market serntiment.

Only three stocks in the CNX IT index-CMC, MindTree and Core Education were down with the rest of the 17 IT index stocks in the green.