Barometers trade in negative terrain; media shares rally for 7th day

The key domestic indices traded with slight losses in early afternoon trade, as limited profit booking capped further gains. The Nifty traded below 24,650 mark. The market was volatile due to the weekly expiry of the Nifty F&O series today.

Media shares witnessed buying demand for the seventh consecutive trading session.

At 12:25 IST, the barometer index, the S&P BSE Sensex, declined 108.20 points or 0.13% to 81,216.20. The Nifty 50 index fell 20.40 points or 0.08% to 24,646.50.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.17% and the S&P BSE Small-Cap index added 0.81%.

The market breadth was strong. On the BSE, 2,456 shares rose and 1,309 shares fell. A total of 167 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, up 0.71% to 17.35. The Nifty 29 May 2025 futures were trading at 24,759.20, at a premium of 112.7 points as compared with the spot at 24,646.50.

The Nifty option chain for the 29 May 2025 expiry showed a maximum call OI of 52.2 lakh contracts at the 25,000 strike price. A maximum put OI of 65.4 lakh contracts was seen at a 24,000 strike price.

Buzzing Index:

The Nifty Media index advanced 1.23% to 1,657.15. The index gained 9.89% in seven consecutive trading sessions.

Zee Entertainment Enterprises (up 2.78%), Hathway Cable & Datacom (up 1.57%), Nazara Technologies (up 1.53%), Saregama India (up 1.23%) and Sun TV Network (up 1.04%), Network 18 Media & Investments (up 0.75%), Tips Music (up 0.26%) advanced.

Stocks in Spotklight:

BLS E-Services zoomed 16.79% after the company's consolidated net profit rallied 58.66% to Rs 17.31 crore in Q4 FY25, compared with Rs 10.91 crore in Q4 FY24. Revenue from operations was at Rs 239.21 crore in the fourth quarter of FY25, skyrocketed 224.83% year on year.

Remsons Industries rallied 12.79% after announcing a major order win worth approximately Rs 300 crore from Stellantis North America, the company's largest-ever business deal to date.

Baazar Style Retail tumbled 5.51% after the company reported a consolidated net loss of Rs 6.39 crore in Q4 FY25 as against a net loss of Rs 6.43 crore recorded in Q4 FY24. Revenue from operations rose by 55% year-over-year (YoY) to Rs 345.4 crore in the fourth quarter.

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