Market Commentary - Mid-Session
Broader mkt outperforms; media shares in demand As on : 10-Sep-24  10:37

The key equity indices traded near the flatline with tiny gains in morning trade. The Nifty traded above the 24,900 level. Media shares advanced after declining in the past two consecutive trading sessions.

At 10:30 IST, the barometer index, the S&P BSE Sensex, rose 35.81 points or 0.04% to 81,591.29. The Nifty 50 index added 3.05 points or 0.01% to 24,939.45.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.44% and the S&P BSE Small-Cap index gained 1.08%.

The market breadth was strong. On the BSE, 2,507 shares rose and 1,090 shares fell. A total of 157 shares were unchanged.

Buzzing Index:

The Nifty Media index rose 1.09% to 2,074.65. The index fell 1.47% in past two consecutive trading sessions.

Nazara Technologies (up 5.07%), PVR Inox (up 2.01%), TV18 Broadcast (up 1.50%), Tips Industries (up 1.05%), Hathway Cable & Datacom (up 1.03%), Sun TV Network (up 0.75%), Zee Entertainment Enterprises (up 0.74%), Network 18 Media & Investments (up 0.57%), Saregama India (up 0.44%) and Dish TV India (up 0.29%) advanced.

Stocks in Spotlight:

Ahluwalia Contracts (India) jumped 4.33% after the company announced that it has bagged two contracts worth Rs 1,307 crore from SignatureGlobal for housing projects.

JSW Energy added 1.37% after the company's wholly owned subsidiary, JSW Neo Energy received a letter of award (LoA) from Maharashtra State Electricity Distribution Company (MSEDCL) for setting up 600 MW Wind-Solar Hybrid Power Project.

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