Benchmarks trade in positive territory; media shares drop

The key equity indices traded with strong gains in mid-afternoon trade amid positive global cues. Investor sentiment improved amid hopes of a possible peace agreement between the U.S. and Iran. Brent crude oil prices hovered around the $105-per-barrel mark, easing from recent high $110, further aided market optimism, while participants tracked quarterly earnings and progress on the India-U.S. trade pact. Nifty traded above the 23,750 mark.

Media shares witnessed selling pressure for three consecutive trading sessions.

At 14:25 IST, the barometer index, the S&P BSE Sensex advanced 377.21 points or 0.50% to 75,555.56. The Nifty 50 index added 101.55 points or 0.43% to 23,756.85.

In the broader market, the BSE 150 MidCap Index rose 0.06% and the BSE 250 SmallCap Index jumped 0.08%.

The market breadth was positive. On the BSE, 2,267 shares rose and 1,813 shares fell. A total of 203 shares were unchanged.

Buzzing Index:

The Nifty Media index declined 1.35% to 1,376.20. The index dropped 3.13% for the three consecutive trading sessions.

Sun TV Network (down 5.94%), Prime Focus (down 3.68%), Zee Entertainment Enterprises (down 1.51%), D B Corp (down 1.2%), PVR Inox (down 0.65%), Hathway Cable & Datacom (down 0.2%), Network 18 Media & Investments (down 0.19%) and Nazara Technologies (down 0.05%) tumbled.

Numbers to Track:

The yield on India's 10-year benchmark federal paper declined 0.46% to 7.085 compared with the previous session close of 7.118.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 95.9150 compared with its close of 96.3650 during the previous trading session.

MCX Gold futures for 5 June 2026 settlement declined 0.34% to Rs 159,061.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.01% to 99.27.

The United States 10-year bond yield declined 0.52% to 4.566.

In the commodities market, Brent crude for July 2026 settlement advanced $3.20 or 3.12% to $105.78 a barrel.

Stock in Spotlight:

SKM Egg Products Export (India) rallied 3.62% after the company reported a strong set of consolidated numbers for the quarter ended March 2026. On a consolidated basis, net profit rose to Rs 32.79 crore in Q4 FY26, up from Rs 6.37 crore in Q4 FY25, reflecting a YoY growth of about 414.76%. Revenue from operations increased 58.93% YoY to Rs 186.65 crore in Q4 FY26 from Rs 117.44 crore in the year-ago quarter.

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