Benchmarks trade sideways; media shares jump

The key equity benchmarks traded in narrow range in morning trade, despite optimism over easing diplomatic tensions between India and U.S. The Nifty slipped above the 25,000 level.

Media shares rallied after declining in the past trading session.

At 10:25 IST, the barometer index, the S&P BSE Sensex gained 5.58 points or 0.01% to 81,430.73. The Nifty 50 index fell 5.90 points or 0.02% to 24,971.30.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.15% and the S&P BSE Small-Cap index jumped 0.37%.

The market breadth was strong. On the BSE, 2,307 shares rose and 1,329 shares fell. A total of 237 shares were unchanged.

 

Buzzing Index:

The Nifty Media index jumped 1.45% to 35,917.90. The index declined 0.64% in the past trading session.

D B Corp (up 3.14%), Zee Entertainment Enterprises (up 2.58%), Tips Music (up 1.81%), PVR Inox (up 1.43%), Sun TV Network (up 1.24%), Network 18 Media & Investments (up 0.88%), Dish TV India (up 0.74%), Hathway Cable & Datacom (up 0.61%) and Nazara Technologies (up 0.01%).

Stocks in Spotlight:

Adani Power rose 2.41% after the company announced that it has received a letter of award (LoA) from MP Power Management Company (MPPMCL) for an additional 800 MW capacity under the 'greenshoe option.

Jupiter Wagons surged 5.31% after its material subsidiary, Jupiter Tatravagonka Railwheel Factory, secured a significant order from the Ministry of Railways.

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