The Nifty Media index dropped 2% in morning trade on Thursday amid heavy selling in stocks of Dish TV, Zee Entertainment, Zee Media, and Sun TV.
Shares of Zee Entertainment, which declined 5%, led the index’s fall. Shares of Zee Media and Dish TV also declined 4% each and contributed to the drop on the index. Sun TV and TV18 Broadcast also declined 2% and 1%, respectively.
However, shares of DB Corp and Jagran Prakashan, which gained 3% and 2%, respectively, cushioned a sharp fall in the index.
Meanwhile, equity benchmark indices were trading in the green on Thursday with the Sensex trading 425 points higher at 36,016-levels. Nifty also climbed 107 points to trade at 10,758.
On the currency front, the Indian rupee appreciated 20 paise to open at 70.92 against the US dollar compared to its previous close 70.12/US$. The appreciation is on the back of a weaker dollar against major peers after the Federal Reserve kept key interest rates unchanged at its meeting on Wednesday.
No comments