Broader mkt outperforms, media shares in demand

The key equity barometers traded near the flat line in mid-morning trade. The Nifty traded below the 21,750 mark. Media shares extended gains for the fourth consecutive trading session.

At 11:29 IST, the barometer index, the S&P BSE Sensex, was down 15.41 points or 0.02% to 72,224.85. The Nifty 50 index added 11.90 points or 0.05% to 21,743.30.

The broader market outperformed the headline indices. The S&P BSE Mid-Cap index rose 0.74% and the S&P BSE Small-Cap index gained 0.80%.

The market breadth was strong. On the BSE, 2,593 shares rose and 1,118 shares fell. A total of 185 shares were unchanged.

Buzzing Index:

The Nifty Media index gained 0.99% to 2,411.75. The index advanced 1.48% in four consecutive trading sessions.

Dish TV India (up 3.55%), TV18 Broadcast (up 2.97%), Network 18 Media & Investments (up 2%), Zee Entertainment Enterprises (up 1.26%), Hathway Cable & Datacom (up 0.94%), Nazara Technologies (up 0.61%), PVR Inox (up 0.4%) edged higher.

On the other hand, D B Corp (down 1.44%), Sun TV Network (down 0.18%) declined.

Stocks in Spotlight:

ACC rose 0.48%. The company stated that it has commissioned Cement Manufacturing unit with a capacity of 1.0 MTPA at Village Ametha, District-Katni, Madhya Pradesh.

PTC Industries hit an upper circuit of 10% after the company announced that its board will meet on Wednesday, 03 January 2024 to consider proposal of raising funds by issuing equity shares.

SJVN advanced 2.08% after the company announced that its wholly owned subsidiary, SJVN Green Energy has commissioned 75 megawatt (MW) Gurhah solar power project located in Jalaun, Uttar Pradesh.

Global Markets:

Most of Europe and Asia will have a market holiday today. The US stock market will remain closed today on New Year�s Day.

U.S. stocks closed modestly lower on Friday, the last trading day of 2023, capping a robust year-end rally as investors eyed easier monetary policy in the year ahead.

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