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Key equity barometers pared some losses and traded with minor cuts in morning trade. The Nifty traded below the 18,750 level. Media shares declined after rising for past two trading sessions.
At 10:27 IST, the barometer index, the S&P BSE Sensex, was down 127.70 points or 0.20% to 63,111.19. The Nifty 50 index lost 57.10 points or 0.30% to 18,714.15.
The broader market underperformed the benchmark indices. The S&P BSE Mid-Cap index slipped 0.69% while the S&P BSE Small-Cap fell 0.62%.
The market breadth was weak. On the BSE, 1,105 shares rose and 2,036 shares fell. A total of 124 shares were unchanged.
Buzzing Index:
The Nifty Media index declined 1.87% to 1,745.45. The index rose 0.59% in the past two trading sessions.
Dish TV India (down 4.09%), Nazara Technologies (down 2.8%), New Delhi Television (down 2.2%), TV18 Broadcast (down 1.63%) and Network 18 Media & Investments (down 1.46%) were the top losers.
Among the other losers were Navneet Education (down 1.41%), Hathway Cable & Datacom (down 1.28%), Sun TV Network (down 1.13%), Zee Entertainment Enterprises (down 0.7%) and PVR Inox (down 0.68%).
Stocks in Spotlight:
LIC Housing Finance declined 1.50%. The company announced the appointment of T Adhikari as its chief operating officer from 22 June 2023.
Man Infraconstruction shed 0.18%. The company has received letter of acceptance (LoA) for approximately Rs 680 crore (inclusive of GST) from Bharat Mumbai Container Terminal (BMCTPL) for execution of Phase 2 Infrastructure Works at Fourth Container Terminal at Jawaharlal Nehru Port (JNPT), within time-frame of 2.5 years.
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