IT stocks that continued to hog the limelight before the result season have been facing the brunt of selling pressure of late on account of the sharp appreciation of the rupee.
Though frontline companies in this space have come up with better guidance and favorable demand outlook by overseas clients, the appreciation of the rupee seems to have dampened spirits.
The results posted by most companies for the quarter ended September 2009 were better than their performance for June 2009 quarter.
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