SENSEX DROPS 265 PTS; MEDIA SHARES DECLINE

The key equity barometers traded with modest cuts in early afternoon trade. Nifty traded below the 23,400 level. Media shares declined after advancing in the past trading session.

At 11:30 IST, the barometer index, the S&P BSE Sensex, slipped 265.04 points or 0.36% to 74,000.21. The Nifty 50 index lost 104.65 points or 0.45% to 23,277.95.

In the broader market, the BSE 150 MidCap Index fell 0.75% and the BSE 250 SmallCap Index shed 0.65%.

The market breadth was negative. On the BSE, 1,689 shares rose and 2,276 shares fell. A total of 185 shares were unchanged.

Derivatives:

The NSE`s India VIX, a gauge of the market`s expectation of volatility over the near term, fell 3.71% to 15.93. The Nifty 30 June 2026 futures were trading at 23,370.10, at a premium of 92.15 points as compared with the spot at 23,277.95.

The Nifty option chain for the 30 June 2026 expiry showed a maximum call OI of 76.1 lakh contracts at the 24,000 strike price. A maximum put OI of 57.2 lakh contracts was seen at the 24,000 strike price.

Buzzing Index:

The Nifty Media index fell 1% to 1,413.30. The index jumped 1.37% in the past trading session.

Saregama India (down 2.84%), Zee Entertainment Enterprises (down 2.19%), Hathway Cable & Datacom (down 1.14%), Sun TV Network (down 0.61%), Network 18 Media & Investments (down 0.6%), Nazara Technologies (down 0.4%), and PVR Inox (down 0.13%) fell.

On the other hand, Tips Music (up 1.27%), Prime Focus (up 1.14%) and D B Corp (up 0.91%) edged higher.

Stocks in Spotlight:

Acme Solar Holding jumped 7.53% after the company�s board approved the opening of the issue of qualified institutional placement (QIP) of equity shares with a floor price of Rs 294.13 per share

Dee Development Engineers hit an upper circuit of 5% after the company said it had secured contracts worth Rs 206.55 crore from a Maharatna public sector EPC conglomerate in the power sector.

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