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Sensex jumps 626 pts, media shares slip

Published on Jan 09, 2024 12:41

The key equity barometers continued to trade in a narrow range with strong gains in early afternoon trade. The Nifty traded above 21,700 level. Nifty Media shares witnessed profit booking after declining in the past nine trading sessions.

At 12:30 IST, the barometer index, the S&P BSE Sensex, was up 626.14 points or 0.88% to 71,981.36. The Nifty 50 index gained 191.65 points or 0.89% to 21,704.65.

In the broader market, the S&P BSE Mid-Cap index added 0.53% and the S&P BSE Small-Cap index rose 0.86%.

The market breadth was strong. On the BSE, 2,564 shares rose and 1,164 shares fell. A total of 136 shares were unchanged.


The NSE`s India VIX, a gauge of the market`s expectation of volatility over the near term, declined 1.81% to 13.22. The Nifty 25 January 2024 futures were trading at 21,781.25, at a premium of 76.6 points as compared with the spot at 21,704.65.

The Nifty option chain for the 25 January 2024 expiry showed maximum Call OI of 28.5 lakh contracts at the 22,000 strike price. Maximum Put OI of 39.7 lakh contracts were seen at 21,000 strike price.

Buzzing Index:

The Nifty Media index slipped 2.99% to 2,396.05. The index witnessed profit booking after advancing 3.92% in the past 9 trading sessions.

Zee Entertainment Enterprises (down 9.2%), Dish TV India (down 3.25%), Hathway Cable & Datacom (down 1.81%), TV18 Broadcast (down 1.49%) and Saregama India (down 0.55%) D B Corp (down 0.28%), Nazara Technologies (down 0.26%), Network 18 Media & Investments (down 0.2%), PVR Inox (down 0.06%) edge lower.

Stocks in Spotlight:

Larsen & Toubro (L&T) advanced 2.23% after the EPC major announced that its construction arm has secured a significant order for its buildings & factories business.

Tata Motors gained 1.86% after the Jaguar Land Rover (JLR) wholesale volume jumped 27% YoY to 1,01,043 units in Q3 FY24 (excluding the Chery Jaguar Land Rover China JV).

Brigade Enterprises rallied 3.63% after the company announced the signing of two MoUs worth over Rs 3400 crore at the Tamil Nadu Global Investors Meet 2024.

Bharat Forge rose 2.18% after the company announced that it has entered into a memorandum of understanding (MoU) with Guidance, the Nodal Agency of Government of Tamil Nadu.

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