Indices trade with modest cuts; media shares advance

The key domestic benchmarks traded with significant losses in early afternoon trade. The Nifty slipped below the 24,100 level. Media shares advanced after declining in past consecutive trading sessions.

At 12:30 IST, the barometer index, the S&P BSE Sensex, declined 508.55 points or 0.64% to 79,435.16. The Nifty 50 index slipped 125.25 points or 0.52% to 24,063.40.

In the broader market, the S&P BSE Mid-Cap index shed 0.05% and the S&P BSE Small-Cap index gained 0.43%.

The market breadth was positive. On the BSE, 2,188 shares rose and 1,657 shares fell. A total of 147 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped 2.60% to 13.38. The Nifty 30 January 2025 futures were trading at 24,156.55, at a premium of 93.15 points as compared with the spot at 24,063.40.

 

The Nifty option chain for the 30 January 2025 expiry showed maximum Call OI of 87 lakh contracts at the 25,000 strike price. Maximum Put OI of 70.3 lakh contracts was seen at 23,000 strike price.

Buzzing Index:

The Nifty Media index added 1.82% to 1,863.85. The index shed 0.01% in the past trading session.

Saregama India (up 6.75%), Network 18 Media & Investments (up 3.55%), Zee Entertainment Enterprises (up 2.48%), Hathway Cable & Datacom (up 1.55%), Den Networks (up 1.24%), Nazara Technologies (up 1.15%), Dish TV India (up 0.68%), Tips Music (up 0.41%) advanced.

On the other hand, PVR Inox (down 0.34%) and Sun TV Network (down 0.17%), edged lower.

Stocks in Spotlight:

Wockhardt rallied 5.87% after the Central Drugs Standard Control Organization (CDSCO) approved Miqnaf (nafithromycin) as a new treatment for community-acquired bacterial pneumonia (CABP) in adults.

V2 Retail was locked in an upper circuit of 5% after the speciality retailers standalone revenue from operations grew 58% YoY to Rs 591.03 crore for the quarter ended 31 December 2024.

Hero MotoCorp declined 2.32% after the company said that its total sales tumbled 17.53% to 32,4906 units in December 2024 as compared with 39,3952 units in December 2023.

Powered by Capital Market - Live News