Barometers trade with tiny cuts; media shares in demand

The benchmark indices traded with minor losses in morning trade. The Nifty traded below the 21,550 mark. Media shares gained after declining in the past trading session.

At 10:27 IST, the barometer index, the S&P BSE Sensex, was down 24.19 points or 0.03% to 71,362.02. The Nifty 50 index shed 17.25 points or 0.08% to 21,527.60.

In the broader market, the S&P BSE Mid-Cap index shed 0.22% and the S&P BSE Small-Cap index rose 0.03%.

The market breadth was positive. On the BSE, 1,928 shares rose and 1,619 shares fell. A total of 144 shares were unchanged.

Buzzing Index:

The Nifty Media rallied 2.58% to 2,449.45. The index declined 3.32% in the past trading session.

Network 18 Media & Investments (up 10.75%), TV18 Broadcast (up 6.27%), Hathway Cable & Datacom (up 3.32%), Dish TV India (up 3.18%), Zee Entertainment Enterprises (up 0.76%) D B Corp (up 0.51%), Nazara Technologies (up 0.13%) jumped.

Stocks in Spotlight:

RailTel Corporation of India shed 0.3%. The firm stated that it has received the work order from Centre for Development of Telematics (C-DoT) worth Rs 29.54 crore. The contract involves Installation, Testing, and commissioning of MPLS VPN connectivity at 26 sites across India. The order has to be executed within a period of 14 weeks from the date of receipt of purchase order.

Karnataka Bank declined 0.06%. The Karnataka Bank has partnered with fintech company Digivriddhi (DGV) to offer host of financial services catering to the needs of dairy farmers & Milk Societies. The services will be made available at Village Dairy Co-operative Societies, associated with Milk unions of Karnataka Milk Federation (KMF).

KIOCL slipped 2.83% after the firm announced that the operations of Pellet Plant Unit of the company situated at Mangalore, have been temporarily suspended, with effect from 9th January 2024 due to non-availability of iron-ore fines.

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