Indices trade with modest gains; Media shares advance

The key equity benchmarks traded with moderate gains in mid-afternoon trade. The Nifty traded near the 19,800 level. Media shares witnessed buying demand after declining for the past trading session.

At 14:25 IST, the barometer index, the S&P BSE Sensex, was up 313.62 points or 0.48% to 65,968.77. The Nifty 50 index rose 102.20 points or 0.52% to 19,796.20.

In the broader market, the S&P BSE Mid-Cap index added 0.18% while the S&P BSE Small-Cap index gained 0.26%.

The market breadth was positive. On the BSE, 2045 shares rose and 1,629 shares fell. A total of 143 shares were unchanged.

Buzzing Index:

The Nifty Media Index advanced 1.32% to 2,291.95. The index declined 0.60% in the past trading session.

Network 18 Media & Investments (up 3.74%), Zee Entertainment Enterprises (up 3.65%), Saregama India (up 2.56%), PVR Inox (up 1.24%) and TV18 Broadcast (up 1.03%), Hathway Cable & Datacom (up 0.25%) advanced.

On the other hand, Sun TV Network (down 2.15%), Nazara Technologies (down 0.44%) and D B Corp (down 0.27%) declined.

Numbers to Track :

The yield on India`s 10-year benchmark federal paper advanced 0.04% to 7.255 as compared with previous close 7.252.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.3400, compared with its close of 83.3800 during the previous trading session.

MCX Gold futures for 5 December 2023 settlement advanced 0.50% to Rs 60,960.

The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, was down 0.19% to 103.24.

The United States 10-year bond yield declined 0.36% to 4.408.

In the commodities market, Brent crude for January 2024 settlement slipped 41 cents or 0.50% to $81.91 a barrel.

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