Mid-Market Watch: Nifty Media stocks fall

Markets continue to remain under pressure through mid-market, Wednesday. Among Nifty sectoral spaces, Media was the hardest hit. The index slipped 3.22% at 2,163.05. Zee Entertainment  down 6.45%, followed by Dish TV, Suns TV and TV Today which falls by 4.11%, 3.77% and 3.29% respectively.

Nifty Realty was also the major drag.  The index slipped 2.33% at 249.80. Indiabulls Real Estate were down 5.21%, followed by Sobha (down 4.76%), Oberoi Realty (down 4.46%), Sunteck Realty (down 3.73%), and Prestige Estates down by 1.27%

The Pharma, Auto, FMCG and metal index were also trading in the red. On the other hand, the Nifty PSUBank index was trading in positive territory.  Shares of PNB, Union Bank, Canara Bank and OrientalBank were up 1% each.

Meantime, shares of Vedanta declined 3.64% after a media report stated that CLSA brokerage firm has cut price target price and retained rating as SELL.

At 1.30pm, Sensex slipped 268 points at 38,003-level and Nifty lose 80 points at 11417-levels.

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