Shares trade with decent gains; media stocks rise for 3rd day

The key equity benchmarks continued to trade with decent gains amid bouts of volatility in mid-afternoon trade. The Nifty hovered near the 16,200 mark. Media stocks extended gains for third day in a row.

At 14:24 IST, the barometer index, the S&P BSE Sensex, was up 201.14 points or 0.37% to 54,379.60. The Nifty 50 index added 56.80 points or 0.35% to 16,189.70.

In the broader market, the S&P BSE Mid-Cap index added 0.02% while the S&P BSE Small-Cap index gained 0.30%.

The market breadth was positive. On the BSE, 1,861 shares rose and 1,346 shares fell. A total of 169 shares were unchanged.

Numbers to Track:

The yield on India`s 10-year benchmark federal paper rose to 7.379% as compared with 7.354% at close in the previous trading session.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 79.3000, compared with its close of 79.1350 during the previous trading session.

MCX Gold futures for 5 August 2022 settlement added 0.02% to Rs 50,630.

The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, was up 0.39% to 107.54.

In the commodities market, Brent crude for September 2022 settlement lost 63 cents or 0.60% at $104.02 a barrel.

Buzzing Index:

The Nifty Media index rose 0.57% to 1,957. The index has added 2.92% in three sessions.

Among the index constituents, TV18 Broadcast (up 2.07%), Network 18 Media & Investments (up 1.19%), Zee Entertainment Enterprises (up 1.12%), Inox Leisure (up 0.6%) and PVR (up 0.41%) were the top gainers.

Meanwhile, Nazara Technologies (down 2.5%), Dish TV India (down 2.38%) and Saregama India (down 0.31%) edged lower.

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