Even though the market is trading at a flat note, shares of the Media will be backed by a buyout buying during the morning to mid-session on Thursday.
As a result, the Nifty Media index, which represents 15 nos media companies, where 13 constituents benefited from buying pressure on the NSE.
The index started trading today at 1,939.65. The intraday rise in the index was observed at 1,996.20. During noon-session, the index traded at 1,951.45-level, up 4.74% or 88 points.
Shares in Network18 added 15% and Zee Entertainment rose 12.5% as the top gainers among the media stocks.
Further, Jagran Prakashan’s share price went up 9.5%, Balaji Telefilms up by 9.8%, TV18 Broadcast added 5.3%, Zee Media rose 4.43%, Music Broadcast advanced 3.8%, and TV TodayNetwork rose 2.2%.
In addition, PVR, Saregama, Hathway, DB Corp, and INOX traded at their minimum levels up to 1%. However, SunTV and DishTV declined by about 3.5% each. To Avail Stock Tips and Free stock Tips visit our website.
At 1.50-pm, the Sensex quoted at 40661.12, up by 9 points, while the Nifty stood at 11,995.85, down 3 points.
Among 50 stocks sin the Nifty pack, 17 shares witness buying pressure, while the remaining 33 scrips were trading in the red.