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Barometers trade with tiny cuts; media shares in demand

Published on Jan 10, 2024 10:33

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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