Nifty above 23,000 level; media shares advance

At 10:30 IST, the barometer index, the S&P BSE Sensex, advanced 403.09 points or 0.53% to 76,310.97. The Nifty 50 index added 131.10 points or 0.57% to 23,088.35.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 1.96% and the S&P BSE Small-Cap index rallied 2.41%.

The market breadth was strong. On the BSE, 2,796 shares rose and 764 shares fell. A total of 161 shares were unchanged.

Result Today:

Maruti Suzuki India(up 0.97%), Tata Motors(up 1.79%), Bajaj Finance(up 1.23%), Adani Power(up 1.02%), Ambuja Cements(up 0.42%), ACME Solar Holdings(up 9.99%), ASK Automotive(up 3.89%), Blue Dart Express(up 1.33%), Blue Star(up 3.38%), Brigade Enterprises(up 2.94%), Computer Age Management Services(up 1.49%), CarTrade Tech(up 7.61%), Chalet Hotels(up 3.40%), Deepak Fertilisers(up 5.83%), Indian Bank(up 2.21%), Jindal Stainless(up 1.89%), Hitachi Energy India(up 8.04%), Raymond(up 2.75%), Voltas(up 2.44%), and Allied Blenders and Distillers(up 3.90%) will declare their quarterly earnings later today.

Buzzing Index:

The Nifty Media index advanced 2.29% to 1,581.60. The index slipped 6.26% in three consecutive trading sessions.

Network 18 Media & Investments (up 4.69%), Nazara Technologies (up 4.59%), Dish TV India (up 4.02%), Saregama India (up 3.15%), Tips Music (up 2.43%), Sun TV Network (up 2.16%), Hathway Cable & Datacom (up 2.1%), PVR Inox (up 1.58%), and Zee Entertainment Enterprises (up 0.96%) advanced.

Stocks in Spotlight:

Colgate-Palmolive (India) fell 1.61% after the company reported net profit declined 2.22% to Rs 322.78 crore in Q3 FY25 as against Rs 330.11 crore posted in Q3 FY24. Revenue from operations grew by 4.74% year on year (YoY) to Rs 1,452.21 crore in the quarter ended 31 December 2024.

VA TECH WABAG jumped 5.98% after the company said that it has secured an operation contract worth $14 million (approximately Rs 121 crore) from BAPCO Refining B.S.C (BAPCO).

OneSource Specialty Pharma added 1.20%. The company has received an Establishment Inspection Report (EIR) with a Voluntary Action Indicated (VAI) status from the US Food and Drug Administration (USFDA) for its BLD facility in Bangalore. The inspection of the facility was conducted from 14-22 November 2024.

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