Barometers pare gains; media shares drop

The key equity benchmarks erased early gains and slipped into moderate losses during morning trade. The Nifty fell below the 25,850 mark as investors assessed mixed cues from global markets and inconclusive U.S. jobs data, which failed to provide clarity on the interest-rate outlook.

At 10:30 ST, the barometer index, the S&P BSE Sensex, fell 152.85 points or 0.18% to 84,525.44. The Nifty 50 index lost 47.70 points or 0.18% to 25,812.45.

In the broader market, the S&P BSE Mid-Cap index fell 0.24% and the S&P BSE Small-Cap index slipped 0.32%.

The market breadth was positive. On the BSE, 1,546 shares rose and 1,984 shares fell. A total of 237 shares were unchanged.

New Listings

Shares of Nephrocare Heath Services were currently trading at Rs 485.45 at 10:14 IST on the BSE, representing a premium of 5.53% as compared with the issue price of Rs 460.

The stock debuted at Rs 491.70 on the BSE, exhibiting a premium of 6.89% over the issue price.

So far, the stock has hit a high of 498.70 and a low of 478. On the BSE, over 12.30 lakh shares of the company were traded in the counter so far.

Shares of Park Medi World were currently trading at Rs 159.90 at 10:15 IST on the BSE, representing a discount of 1.30% as compared with the issue price of Rs 162.

The stock debuted at Rs 155.60, marking a discount of 3.95% to the issue price.

So far, the stock has hit a high of 161.75 and a low of 155.60. On the BSE, over 9.79 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty Media index slipped 0.53% to 1,428. The index rallied 1.82% in the past two consecutive trading sessions.

Nazara Technologies (down 1.98%), Saregama India (down 1.65%), Network 18 Media & Investments (down 0.92%), Hathway Cable & Datacom (down 0.72%), PVR Inox (down 0.71%), Prime Focus (down 0.63%) and Sun TV Network (down 0.56%).

On the other hand, D B Corp (up 0.65%), Tips Music (up 0.64%) and Zee Entertainment Enterprises (up 0.45%) edged higher.

Stocks in Spotlight:

Diamond Power Infrastructure rose 0.82%. The company has secured an order worth Rs 57.58 crore from Rajesh Power Services for the supply of 11 KV (E) 3C 300 sq mm XLPE Aluminum Armored Cable as per UGVCL Robust 2.0 specifications.

Ahluwalia Contracts (India) rallied 3.35% after the company received an order from Bihar State Tourism Development Corporation (BSTDC) for civil construction work on EPC Mode at Punauradham, Sitamarhi, Bihar.

Apeejay Surrendra Park Hotels gained 3.18% after the company said that it has signed an agreement to purchase new hotel assets in Kerala, which include a lakefront property named 'Purity' and a luxury houseboat named 'Discovery'.

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