Sensex gains 136 pts, media shares advance

The key equity benchmarks traded with limited gains in morning trade. The Nifty traded above 21,650 level. Media shares advanced after declining in the past three trading sessions.

At 10:30 IST, the barometer index, the S&P BSE Sensex, was up 136.02 points or 0.19% to 71,819.25. The Nifty 50 index added 47.55 points or 0.22% to 21,669.95.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.56% and the S&P BSE Small-Cap index added 0.53%.

The market breadth was strong. On the BSE, 2,115 shares rose and 1,397 shares fell. A total of 154 shares were unchanged.

Stock exchanges NSE and BSE on Friday said there will be normal trading session on Saturday, 20 January 2024 from the primary site in equity and equity derivatives segments as per regular market timings. Besides, it will be a trading holiday on Monday, 22 January 2024, with the Maharashtra government announcing a holiday in connection with the consecration of the Ram Temple in Ayodhya.

Results Today :

ICICI Bank (up 0.42%), Kotak Mahindra Bank (up 1.44%),Union Bank of India (up 0.18%), IDBI Bank (up 0.83%), IDFC First Bank (down 0.02%), Indian Renewable Energy Development Agency (up 8.53%), Persistent Systems (up 0.60%), Aarti Surfactants (up 0.09%), Can Fin Homes (up 0.49%), Jammu & Kashmir Bank (down 0.91%), JK Cement (up 1.71%), LKP Securities (down 0.10%), Rossari Biotech (up 0.87%), Sportking India (up 0.33%), Tatva Chintan Pharma Chem (up 1.95%), and Waaree Renewable Technologies (up 4.80%) will announce their quarterly earnings later in the day.

Buzzing Index:

The Nifty Media index advanced 1.18% to 2,397.80. The index fell 1.57% in the past three trading sessions.

D B Corp (up 3.13%), PVR Inox (up 2.61%), Network 18 Media & Investments (up 1.42%), Saregama India (up 0.91%), TV18 Broadcast (up 0.69%), Nazara Technologies (up 0.49%), Dish TV India (up 0.49%) and Zee Entertainment Enterprises (up 0.43%) rallied.

Zee Entertainment Enterprises (ZEE) rose 0.43%. With respect to reports indicating Sony board to take call on $10 billion merger with Zee Entertainment, the company is not aware of, and cannot comment on, any board meeting held or proposed to be held by Culver Max Entertainment Private Limited (formerly Sony Pictures Networks India Private Limited) (�Sony�), given that these are internal matters of Sony.

Stocks in Spotlight:

KPI Green Energy advanced 1.16% after the power generation company on Friday announced that its wholly owned subsidiary, KPIG Energia has received new order of 5.60 megawatt (MW) for executing solar power project under captive power producer (CPP) segment.

HFCL surged 7.80% after the company has received a purchase order aggregating to about Rs 623 crore for supply of indigenously manufactured Telecom Networking Equipment for 5G network of one of the domestic Telecom Service Provide.

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