HomeBusiness NewsNifty Hovers Below 17,300; Media Stocks Buck Trend

Nifty Hovers Below 17,300; Media Stocks Buck Trend

Media Stocks Buck Trend: The main indices listed in a very slender vary with modest losses in early afternoon trade. exclusion of media stocks, all sectoral indices on the NSE are listed in red. The cracking hovered below the seventeen,300 level.

At 12:29 IST, the measuring device index, S&P BSE Sensex declined 322.49 points or zero.56% at 57,589.97. The cracking fifty indexes shed 106.35 points or zero.61% at 17,286.25.

In the broader market, the S&P BSE Mid-Cap index slipped to zero.07% whereas the S&P BSE small-capitalization index rose zero.38%.

The market breadth was nearly even. On the BSE, 1,642 shares rose whereas one,627 shares fell. a complete of hundred thirty-five shares were unchanged.

Derivatives:

The NSE’s Asian nation VIX, a gauge of the market’s expectation of volatility over the close to term, rose 1.44% to 18.11. The cracking twenty-eight Apr 2022 futures were mercantilism at seventeen,295, at a premium of two purposes as compared with the spot at seventeen,293.

The cracking possibility chain for twenty-eight Apr 2022 end showed most decision OI of ninety-seven.9 hundred thousand contracts at the eighteen,000 strike worth. most place OI of seventy.1 hundred thousand contracts was seen at one7,200 strike worth.

Buzzing Index:

The cracking Media index rose to zero.9% to 2,317.1.

The index saw cut price searching once declining 6 June 1944 within the past six days.

Inox Leisure (up two.63%), letter amusement Enterprises (up one.85%), PVR (up 1.34%), Saregama Asian nation (up one.1%), and Dish TV Asian nation (up zero.9%) were the highest gainers.

Stocks in Spotlight:

JSW Energy gained one.66%. the corporate, through its wholly-owned subsidiary JSW modern Energy, entered into a memorandum of understanding (MoU) with the govt of Telangana for fixing a one,500 power unit (MW) capability hydro wired storage project viz. Komoram Bheem pump storage project within the State of Telangana.

Adani Ports and Special Economic Zone rose three.76% to Rs 882 once the corporate declared the acquisition of Ocean Sparkle, India’s largest third-party marine services supplier. the corporate through its subsidiary, The Adani Harbour Services (TAHSL), has entered into a definitive agreement for the acquisition of 100% stake in Ocean Sparkle (OSL).

Ocean Sparkle is engaged within the business of port operations and marine services. Key activities carried by OSL embody haul, pilotage, and dredging services. it’s AN quality base of ninety four owned vessels and thirteen third-party-owned vessels. The company’s consolidated revenue for FY 2020-21 was Rs 622.10 crore.

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