Our Markets Bureau

Mumbai, May 22: EVEN though the stock markets have remained almost flat during the past few days the new economy sector stocks are likely to take lead in the days to come. Frontline counter from these sectors like Wipro, Satyam Computers, Global Telesystems and Digital Equipment are expected to witness renewed interest both from institutional as well as retail investors.

The trading volumes at these counters has picked up substantially and is also indicative of hectic activity in coming days. Refco-Sify Securities’ Jignesh Shah said, “These counters are readying to take the lead in a brief rally that the market is set to witness in a short period of time.” Wipro may firm up as the company has received two to three big orders from Germany-based companies, while Digital and Satyam Computers are also expected to see hightened activity.

Sterlite Opticals and Aksh Opti Fibres are also expected to witness renewed buying interest. These stocks could be in demand as these companies are expected to receive huge orders of optical fibre from the department of telecom (DoT), the tenders for which opened on Wednesday, said the market sources.

Another leading stock from the new economy sector, which may steal the limelight is Global Telesystems. The stock has witnessed hectic activity from the latter part of the settlement at the Bombay Stock Exchange (BSE).

The stock has witnessed huge volumes on May 21 with the counter registering trading volume of 81.38 lakh shares only at BSE, topping the turnover list and it clocked the trading volume of 61.64 lakh shares on May 22. The stock has risen from the close of Rs 203.55 on Friday last to Rs 224.80 on Tuesday.

Wipro continued to remain in the limelight even on Tuesday with the stock registering a trading volume of more than 6.50 lakh shares at the BSE and the price surged from Monday’s close of Rs 1,687 to Rs 1,740.60.Satyam was also major gainers in terms of volumes and price rise. The counter remained the most active stock at both the exchanges with highest trading turnover in value terms. The stock closed at Rs 236.30 on Wednesday as compared to previous close of Rs 230.80.