Sensex adds 72 pts; media shares advance

The key equity indices hovered near the flat line with small gains in early afternoon trade. The Nifty traded above the 19,800 level. Media shares gained after declining in the past trading session.

At 12:30 IST, the barometer index, the S&P BSE Sensex, was up 72.47 points or 0.11% to 66,095.71. The Nifty 50 index added 10.15 points or 0.05% to 19,822.

In the broader market, the S&P BSE Mid-Cap index rose 0.25% while the S&P BSE Small-Cap index gained 0.56%.

The market breadth was strong. On the BSE, 2,087 shares rose and 1,474 shares fell. A total of 172 shares were unchanged.

Derivatives:

The NSE`s India VIX, a gauge of the market`s expectation of volatility over the near term, rose 1.17% to 12.01. The Nifty 30 November 2023 futures were trading at 19,877.50, at a premium of 55.5 points as compared with the spot at 19,822.

The Nifty option chain for the 30 November 2023 expiry showed maximum Call OI of 56.2 lakh contracts at the 20,000 strike price. Maximum Put OI of 60.4 lakh contracts were seen at 19,000 strike price.

Buzzing Index:

The Nifty Media index added 0.54% to 2,279.70. The index declined 0.87% in the past trading session.

Dish TV India Ltd (up 2.82%), Hathway Cable & Datacom Ltd (up 2.03%), Network 18 Media & Investments Ltd (up 1.4%), Saregama India Ltd (up 1.15%) and D B Corp Ltd (up 0.84%), Zee Entertainment Enterprises Ltd (up 0.6%) and TV18 Broadcast Ltd (up 0.12%) advanced.

On the other hand, PVR Inox Ltd (down 0.57%), Nazara Technologies Ltd (down 0.48%) and Sun TV Network Ltd (down 0.05%) edged lower.

Stocks in Spotlight:

Genesys International Corporation rose 1.71% after the company said that it has signed a strategic partnership with Survey of India (SOI) with an aim to create Digital Twins of major cities and towns.

Lupin declined 2.47%. The drug maker announced that it has launched fixed-dose triple combination drug (FDC) under the brand name �Vilfuro-G� for the effective management of chronic obstructive pulmonary disease (COPD) in India.

Strides Pharma Science advanced 2.89% after its step‐down wholly owned subsidiary, Strides Pharma Global Pte. Singapore received approval from the US Food & Drug Administration (USFDA) for generic Suprep Bowel Prep Kit oral solution.

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