Broader market outperforms; media shares in demand

The key equity barometers traded with small gains in morning trade. The Nifty traded above 22,000 level. Media shares saw profit booking after declining in the past three trading sessions.

At 10:30 IST, the barometer index, the S&P BSE Sensex, was up 15.23 points or 0.02% to 72,777.12. The Nifty 50 index added 25.25 points or 0.11% to 22,022.85.

The broader market outperformed the headline indices. The S&P BSE Mid-Cap index jumped 1.11% and the S&P BSE Small-Cap index surged 1.78%.

The market breadth was strong. On the BSE, 2,351 shares rose and 1,257 shares fell. A total of 116 shares were unchanged.

New Listing:

Shares of Gopal Snacks were currently trading at Rs 379 at 10:25 IST on the BSE, representing a discount of 5.49% as compared with the issue price of Rs 401.

The scrip was listed at Rs 350, exhibiting a discount of 12.72% to the issue price.

On the BSE, over 2.77 lakh shares of the company were traded in the counter so far.

Shares of Koura Fine Diamond Jewelry were currently trading at Rs 71.25 at 10:25 IST on the BSE, representing a premium of 29.54% as compared with the issue price of Rs 55.

The scrip was listed at Rs 211, exhibiting a premium of 36.36% to the issue price.

On the BSE, over 4.02 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty Media index gained 1.54% to 1,815.95. The index dropped 10.05% in the past three trading sessions.

Dish TV India (up 6.4%), Hathway Cable & Datacom (up 4.18%), Zee Entertainment Enterprises (up 1.96%), D B Corp (up 1.93%), Nazara Technologies (up 1.65%), Network 18 Media & Investments (up 1.62%), Sun TV Network (up 1.25%), PVR Inox (up 0.92%) and Saregama India (up 0.42%).

Stocks in Spotlight:

Cyient rose 4.10% after the company said that it has signed multi-year services agreement with Airbus for cabin and cargo engineering.

Adani Enterprises gained 3.95% after the Adani ConneX`s Hyderabad site awarded five-star safety grading by British Safety Council.

IIFL Finance shed 0.49%. The company approved raising up to Rs 2,000 crore via share and NCD issuance.

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