NIFTY SLIDES BELOW 25,050; MEDIA SHARES UNDER PRESSURE

The key equity benchmarks traded with minor losses in morning trade. The Nifty traded below the 25,050 mark. Media shares declined after advancing in the past trading session.

At 10:30 ST, the barometer index, the S&P BSE Sensex, was down 62.25 points or 0.08% to 81,767.12. The Nifty 50 index shed 16 points or 0.06% to 25,041.35.

In the broader market, the S&P BSE Mid-Cap index shed 0.03% and the S&P BSE Small-Cap index rose 0.02%.

The market breadth was strong. On the BSE, 1,924 shares rose and 1,292 shares fell. A total of 137 shares were unchanged.

Result Today

Bajaj Auto (down 0.52%), L&T Technology Services (up 0.50%), Aditya Birla Money (up 2.51%), South Indian Bank (up 1.38%), CRISIL (down 0.87%), Accelya Solutions India (down 0.12%), Himadri Speciality Chemical (up 0.14%), Mphasis (down 0.22%), Pasari Spinning Mills (up 0.48%), Pondy Oxides & Chemicals (down 0.35%), Rajnish Wellness (up 7.64%), Shah Metacorp (up 1.26%), Tips Music (down 3.04%) and Vivid Mercantile (down 3.57%) will announced their quarterly earnings later today.

Buzzing Index:

The Nifty Media index fell 1.21% to 2,044.25. The index rose 0.62% in the past trading session.

Network 18 Media & Investments (down 2.4%), Saregama India (down 1.53%), Tips Music (down 1.13%), PVR Inox (down 1.11%) and Hathway Cable & Datacom (down 0.97%), Nazara Technologies (down 0.26%), Zee Entertainment Enterprises (down 0.26%), Dish TV India (down 0.22%), Sun TV Network (down 0.13%) declined.

Stocks in Spotlight:

Ashoka Buildcon rallied 2.18% after the civil construction company received letter of acceptance (LoA) for projects totalling to Rs 1,126.58 crore from the Brihanmumbai Municipal Corporation (BMC).

RailTel Corporation of India surged 8.06% after the company informed that it has received work order from Maharashtra Housing And Area Development Authority (MHADA) amounting to Rs 79.84 crore.

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