Mid-Market Stocks: Nifty Media slips


Markets turned volatile with all the sectoral indices, except Nifty IT, trading in the red, through mid-session.

The Nifty Media index has been witnessing high selling pressure in today’s session. The index currently (at 1.30-pm) is trading lower at 1,800-levels, down 4.19% or 98 points.

Dish TV is among top losers in the media index, thereafter Sun TV, Zee Entertainment, INOX, TV18 Broadcast and  PVR. Get Nifty Options Tips by just clicking the link.

Shares of Sun TV currently slumped 10.53% on the NSE after the company reported its Q2FY20 results. For the quarter concluded Sept 30, 2019, it has reported flattish growth in profit, up 1-pc, at Rs.368.79-cr, year on year, while its revenue scaled up at Rs.900.74-cr, up 6.79%.

Shares of DishTV slipped 11-pc, Zeel Entertainment declined 4.83-pc while, INOX and PVR slipped 2.4-pc each. On the flip side, Zee Media, Balal Telefilms, Saregama and Hathway were up in today’s trade.

Meantime, over 50 stocks hit their one-year low levels on the NSE, which include Centrum Capital, Astron Paper & Board Mill, Future Retail, Sobha Limited, and V-Mart Retail.

One the other hand, about 30 securities hit their respective one-year-high levels on the NSE, wherein the names include Adani Green, AU Small Finance Bank, DLF, HDFC AMC, Jash Engg, and ICICI Prudential Life Insurance.

The BSE Sensex is trading lower at 40,281, down 64-pts and the Nifty was down 28-pts at 11,885 at 1.45-pm.
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