NIFTY moves up, Nifty Media is in focus, up 3.29%

The key equity barometers traded with modest gains in morning trades. Nifty moved in a range of 22772-22660. Nifty Media, Nifty PSU Bank and Nifty Chemicals shares gained, while Nifty Healthcare Index and Nifty Pharma shares retreated.

NIFTY slipped by 0.28% in last session and recorded sharp losses of 5.67% over last one-week.

At 12:15 IST, the barometer index, the S&P BSE Sensex, moved higher by 377.14 points or 0.52% to 72,906.21. The Nifty 50 index inched up 25.35 points or 0.11% to 22,741.55.

The broader market performed worse than frontline indices. The BSE 150 MidCap Index edged higher by 0.25% and the BSE 250 SmallCap Index added 0.36%.

The market breadth was positive. On the BSE, 2786 shares rose and 2064 shares declined. A total of 260 shares were unchanged.

Nifty Media index spiked 3.29% to 1592. The index has edged lower 1.05% in last one month and posted modest losses of 1.35% over last one year. Sun TV Network, surging 14.55%, led the gainers followed by Saregama India, inching higher 2.97% and PVR Inox, gaining 2.80%, respectively. All 9 constituents are advancing today.

Nifty PSU Bank index rallied 1.58% to 8099. The index has retreated 7.40% in last one month and inched up 7.88% over last one year. Bank of Baroda, up 3.10%, led the gainers followed by UCO Bank, edging up 1.61% and Pun. & Sind Bank, adding 1.51%, respectively. All 12 constituents are advancing today.

Nifty Healthcare Index index slipped 2.01%. The index has posted modest losses of 2.24% in last one month and surged 17.10% over last one year. Apollo Hospitals, moving down 5.96%, led the losers followed by Krishna Institu., moving lower 5.32% and Fortis Health., losing 4.64%, respectively. Out of 20 index constituents, 19 are reporting loss today.

Asian markets soared on Wednesday. China’s Shanghai composite is modestly higher by 0.41%, Hong Kong’s Hang Seng is up 0.24%. Japan’s Nikkei 225 is firmly higher by 1.94%.

In Europe, German DAX remained flat, UK’s FTSE 100 eased 0.45% and French CAC slipped 0.53%.

In Commodities, MCX Gold ticked up 0.91% to trade at Rs 1,46,163 per 10 grams. MCX Crude oil drifted lower by 0.60% to trade at Rs 8,674 per barrel.