Polaris, Nucleus Software, Financial Technologies and 3i Infotech all saw significant gains last week as the Finextra50 Financial Technology Index climbed 3.4%.
The top gainers in the index were all Indian firms last week, as outsourcing service providers in particular benefited from the news that the US Federal Reserves will buy debts worth around $1.2 trillion. India's outsourcing focussed IT firms all rose on hopes of a recovery in the US economy, their biggest market. Ironically, the technology and financial sector in the US ended the week broadly lower.
The top gainers were:
Companies to see significant falls last week were:
- Bravura, down 10.53% to A$0.17
- S1, down 6.71% to $5.56
- Actuate, down 6.04% to $3.11
More information on the Finextra50 Financial Technology Index methodology and constituent stocks can be found here.