Market Commentary - Mid-Session
Nifty slides below 25,050; media shares under pressure As on : 16-Oct-24  10:31

The key equity benchmarks traded with minor losses in morning trade. The Nifty traded below the 25,050 mark. Media shares declined after advancing in the past trading session.

At 10:30 ST, the barometer index, the S&P BSE Sensex, was down 62.25 points or 0.08% to 81,767.12. The Nifty 50 index shed 16 points or 0.06% to 25,041.35.

In the broader market, the S&P BSE Mid-Cap index shed 0.03% and the S&P BSE Small-Cap index rose 0.02%.

The market breadth was strong. On the BSE, 1,924 shares rose and 1,292 shares fell. A total of 137 shares were unchanged.

Result Today

Bajaj Auto (down 0.52%), L&T Technology Services (up 0.50%), Aditya Birla Money (up 2.51%), South Indian Bank (up 1.38%), CRISIL (down 0.87%), Accelya Solutions India (down 0.12%), Himadri Speciality Chemical (up 0.14%), Mphasis (down 0.22%), Pasari Spinning Mills (up 0.48%), Pondy Oxides & Chemicals (down 0.35%), Rajnish Wellness (up 7.64%), Shah Metacorp (up 1.26%), Tips Music (down 3.04%) and Vivid Mercantile (down 3.57%) will announced their quarterly earnings later today.

Buzzing Index:

The Nifty Media index fell 1.21% to 2,044.25. The index rose 0.62% in the past trading session.

Network 18 Media & Investments (down 2.4%), Saregama India (down 1.53%), Tips Music (down 1.13%), PVR Inox (down 1.11%) and Hathway Cable & Datacom (down 0.97%), Nazara Technologies (down 0.26%), Zee Entertainment Enterprises (down 0.26%), Dish TV India (down 0.22%), Sun TV Network (down 0.13%) declined.

Stocks in Spotlight:

Ashoka Buildcon rallied 2.18% after the civil construction company received letter of acceptance (LoA) for projects totalling to Rs 1,126.58 crore from the Brihanmumbai Municipal Corporation (BMC).

RailTel Corporation of India surged 8.06% after the company informed that it has received work order from Maharashtra Housing And Area Development Authority (MHADA) amounting to Rs 79.84 crore.

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