Nifty holds 23,000 level; media shares rally for 3rd day

The key equity benchmarks traded with major gains in morning trade, mirroring the positive sentiment across global markets. The Nifty traded above 23,000 level. Media shares witnessed buying demand for the third consecutive trading session.

At 10:25 IST, the barometer index, the S&P BSE Sensex, advanced 419.28 points or 0.56% to 75,868.80. The Nifty 50 index jumped 129.75 points or 0.57% to 23,037.35.

In the broader market, the S&P BSE Mid-Cap index rose 0.13% and the S&P BSE Small-Cap index added 0.05%.

The market breadth was strong. On the BSE, 2,254 shares rose and 1,332 shares fell. A total of 178 shares were unchanged.

Buzzing Index:

The Nifty Media advanced 1.70% to 1,521.60. The index rallied 6.52% in the three consecutive trading sessions.

Tips Music (up 5.21%), Zee Entertainment Enterprises (up 3.8%), Saregama India (up 3.34%), Sun TV Network (up 1.45%), Hathway Cable & Datacom (up 1.11%), Den Networks (up 0.71%), Network 18 Media & Investments (up 0.46%) and Dish TV India (up 0.16%) advanced.

Stocks in Spotlight:

Paras Defence and Space Technologies jumped 5.08% after the company announced that it has received an order from Center for High Energy Systems & Sciences (CHESS) valued at approximately Rs 142.31 crore.

Dishman Carbogen Amcis advanced 1.08% after the companys wholly owned subsidiary, Carbogen Amcis SAS, France, has received a Certificate of GMP (Good Manufacturing Practice) Compliance for its Saint-Beauzire site, France, from the National Agency for the Safety of Medicine and Health Products (ANSM).

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