Sensex Gains 376 Points Amid Media Shares Rally
Sensex jumps 376 pts; media shares rally for 4th day
Business Standard
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The S&P BSE Sensex increased by 376 points to reach 78,896.51 as media stocks surged for the fourth consecutive day, despite investor caution over escalating conflicts in West Asia. The Nifty 50 index also rose, trading above 24,400.
- 01S&P BSE Sensex rose by 376 points or 0.48%.
- 02Nifty 50 index increased by 75.65 points or 0.31%.
- 03Media sector saw significant gains, with the Nifty Media index up 5.20% over four sessions.
- 04Hathway Cable & Datacom reported an 11.33% drop in net profit.
- 05Aditya Birla Money's net profit surged by 100.97%.
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In early afternoon trading, the S&P BSE Sensex rose by 375.97 points, or 0.48%, reaching 78,896.51. The Nifty 50 index also saw an increase of 75.65 points, or 0.31%, trading above the 24,400 mark. The media sector continued its upward trend, with the Nifty Media index gaining 1.03% today and 5.20% over the past four sessions. Key media stocks like Zee Entertainment Enterprises and Sun TV Network contributed to this rally. However, the overall market breadth was negative, with 2,093 shares rising and 2,122 shares falling on the BSE. Notably, Hathway Cable & Datacom's net profit fell by 11.33% despite a revenue increase, while Aditya Birla Money reported a 100.97% surge in net profit. The NSE's India VIX, a measure of market volatility, decreased by 2.72%.
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The rise in the Sensex and media shares may boost investor confidence and encourage further investment in the market.
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