Nifty above 19,800; Media shares advance

The key equity benchmarks traded near flat line with positive bias in mid-afternoon trade. The Nifty above the 19,800 level after hitting the day�s low of 19,768.85 in afternoon trade. Media shares witnessed bit of buying demand for second consecutive trading session.

At 14:25 IST, the barometer index, the S&P BSE Sensex, was up 13.53 points or 0.02% to 65,031.34. The Nifty 50 index gained 1.55 points or 0.01% to 19,803.55.

In the broader market, the S&P BSE Mid-Cap index rose 0.20% while the S&P BSE Small-Cap index gained 0.31%.

The market breadth was positive. On the BSE, 1,840 shares rose and 1,796 shares fell. A total of 139 shares were unchanged.

Buzzing Index:

The Nifty Media index rose 0.56% to 2,290.85. The index jumped 1.03% in two trading session.

Network 18 Media & Investments (up 1.64%), Zee Entertainment Enterprises (up 1.4%), Sun TV Network (up 1.35%), TV18 Broadcast (up 1.05%) and D B Corp (up 0.34%), PVR Inox (up 0.32%), Nazara Technologies (up 0.11%) advanced.

On the other hand, Dish TV India (down 3.19%), Hathway Cable & Datacom (down 0.25%) and Saregama India (down 0.05%) declined.

Numbers to Track:

The yield on India`s 10-year benchmark federal paper rose 0.37% to 7.280 as compared with previous close 7.253.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.3725, compared with its close of 83.3450 during the previous trading session.

MCX Gold futures for 5 December 2023 settlement added 0.09% to Rs 61,128.

The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, was down 0.22% to 103.68.

The United States 10-year bond yield advanced 1.60% to 4.487.

In the commodities market, Brent crude for January 2024 settlement declined 56 cents or 0.68% to $81.40 a barrel.

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