NIFTY BELOW 26,100 LEVEL; MEDIA SHARES DECLINE

The key equity benchmarks traded with minor losses in morning trade. The Nifty traded below the 26,100 level. Media shares declined after gaining in the previous four trading sessions.

At 10:30 IST, the barometer index, the S&P BSE Sensex, declined 197.39 points or 0.23% to 85,211.31. The Nifty 50 index fell 50 points or 0.19% to 26,092.10.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index added 0.19% and the S&P BSE Small-Cap index rose 0.09%.

The market breadth was positive. On the BSE, 1,848 shares rose and 1,839 shares fell. A total of 211 shares were unchanged.

Buzzing Index:

The Nifty Media index fell 0.28% to 1,415.75. The index rose 1.62% in the past four trading sessions.

PVR Inox (down 1.15%), Zee Entertainment Enterprises (down 0.56%), Nazara Technologies (down 0.46%), Sun TV Network (down 0.1%) fell.

On the other hand, Network 18 Media & Investments (up 1.15%), D B Corp (up 1.09%) and Tips Music (up 0.52%) edged higher.

Stocks in Spotlight:

Ola Electric Mobility jumped 3.59% after its subsidiary, Ola Electric Technology, secured incentives worth Rs 366.78 crore under the Production Linked Incentive (PLI) scheme for automobiles and auto components (PLI-Auto) for FY25.

Vikran Engineering rose 4.66% after securing an order worth Rs 459.20 crore from NTPC Renewable Energy for the engineering, procurement, and construction (EPC) of a 400 MW AC solar power project at Chitrakoot-1 in Uttar Pradesh.

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