Nifty Media index tanks 5%; Zee Entertainment, Sun TV hits 52-week lows

Zee Entertainment Enterprises plunged 9.5% to Rs 436 in early morning trade on the NSE.

Shares of media companies were under pressure with Nifty Media index tanked 5% in intra-day trade, hitting 20-month low on the National Stock Exchange (NSE) on growth concerns.

Zee Entertainment Enterprises (ZEEL) and Sun TV Network hits their respective 52-week lows have tanked up to 9%, while Dish TV India, INOX Leisure and Den Networks were trading lower in the range of 1% to 35 on the NSE.

At 09:48 am; Nifty Media, the largest loser among sectoral indices, tanked 5.3% at 2,592, as compared to 0.24% rise in the Nifty 50 index. The media index was trading