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Broader markets rally up to 3% ahead of Fed outcome; Nifty Media jumps 13%

NSE Nifty settled the day in the red ahead of the FOMC outcome later today

MARKET LIVE | Markets | S&P BSE Sensex

SI Reporter  | New Delhi 


Investors on Dalal Street ditched the largecap stocks for mid and smallcap players as valuation concerns lingered at the benchmark level. Moreover, investors are banking on the minnows to gain further ground amid a swift recovery in the Indian economy. Amid this backdrop, the broader outperformed the benchmark indices. The Nifty Midcap 50 jumped 2.74 per cent while the Nifty Midcap 100 was up 1.67 per cent. At the same time, the Smallcap 100 pack was up 1.4 per cent.

Against this, the settled the day in the red ahead of the FOMC outcome later today. The 50-pack index closed 15 points lower at 17,547. Its BSE counterpart Sensex settled the day at 58,927, down 78 points. 

In the Sensex pack of stocks, 16 ended in the green and 14 in the red. Tech Mahindra, M&M, HCL Tech and Bajaj Auto were the top gainers while HDFC, Nestle India, ICICI Bank and HUL were the worst laggards.

Sectorally on NSE, the Nifty Media pack hogged the limelight as it surged 13.57 per cent, following a sharp rally in index heavyweight Zee Entertainment (ZEEL). The shares of ZEEL (up 30.50 per cent) surged after the media company's board unanimously provided an in-principle approval for the merger between Sony Pictures Networks India (SPNI) & ZEEL. READ HERE

Nifty Realty index was another top performer, notching 8.45 per cent returns. All stocks from the realty pack also settled in the green amid strong demand outlook. Nifty Financial Services, Bank, Private Bank and FMCG were the only losers. 


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