Barometers trade near flat line; media shares advance

The key equity indices traded near the flat line with some positive bias in morning trade. The Nifty hovered above the 22,000 level. Media shares advance after declining in the past trading session.

At 10:27 IST, the barometer index, the S&P BSE Sensex, was up 43.21 points or 0.06% to 72,689.07. The Nifty 50 index rose 0.50 points or 0.01% to 22,026.45.

In the broader market, the S&P BSE Mid-Cap index declined 0.17% and the S&P BSE Small-Cap index shed 0.07%.

The market breadth was positive. On the BSE, 1,921 shares rose and 1,596 shares fell. A total of 176 shares were unchanged.

Buzzing Index:

The Nifty Media index rose 0.93% to 1,839.45. The index shed 0.04% in the past trading session.

Network 18 Media & Investments (up 4.95%), TV18 Broadcast (up 3.27%), Zee Entertainment Enterprises (up 1.87%), Nazara Technologies (up 0.36%), D B Corp (up 0.28%), Sun TV Network (up 0.26%) and PVR Inox (up 0.21%) advanced.

On the other hand, Hathway Cable & Datacom (down 0.74%), Saregama India (down 0.33%) and Dish TV India (down 0.28%) edged lower.

Stocks in Spotlight:

Rail Vikas Nigam (RVNL) added 0.47%. The company said that it has received letter of acceptance (LOA) from Maharashtra Metro Rail Corporation for a project worth Rs 339.23 crore.

Torrent Power surged 5.76% after receiving letter of award from the company�s distribution unit for setting up of 300 MW (RE Power) grid-connected wind solar hybrid projects.

SJVN gained 1.92% after the company said SJVN Green Energy (SGEL), the renewable arm of SJVN has received letter of intent (LOI) from Gujarat Urja Vikas Nigam (GUVNL) for 200 meagwatt (MW) solar project in GUVNL Phase-XXIII.

IRCON International rose 0.18%. The company received letter of award (LoA) from National Highways & Infrastructure Development Corporation (NHIDCL) for construction of tunnel in Mizoram for Rs 630.66 crore.

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