Nifty trades below 22,500 level; media shares rally for 2nd day

The key equity benchmarks traded with moderate losses in morning trade on Monday as investors booked profits at higher levels and adopted a cautious stance ahead of key US inflation data. Despite a recent decline, crude oil prices remained elevated, keeping concerns over inflation and market volatility in focus. The Nifty slipped below the 22,500 mark.

Investors tracked movements in the rupee, crude oil prices and quarterly earnings announcements released over the weekend. Mixed global cues, continued foreign institutional selling and ongoing geopolitical uncertainties also weighed on sentiment, while market participants remained focused on the September-quarter earnings season for further cues on corporate performance.

Media shares jumped for the second consecutive trading sessions.

At 10:25 IST, the barometer index, the S&P BSE Sensex shed 173.28 points or 0.24% to 72,301.59. The Nifty 50 index fell 22.75 points or 0.13% to 22,490.65.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index added 0.76% and the BSE 250 SmallCap Index jumped 1.25%.

The market breadth was strong. On the BSE, 2,534 shares rose and 1,351 shares fell. A total of 285 shares were unchanged.

Buzzing Index:

The Nifty Media index jumped 2.73% to 1,595.75. The index climbed 4.08% in the two consecutive trading sessions.

Prime Focus (up 6.61%), Tips Music (up 6.34%), Zee Entertainment Enterprises (up 5.76%), Saregama India (up 3.14%), Nazara Technologies (up 2.85%), PVR Inox (up 1.61%), Network 18 Media & Investments (up 1.5%), MPS (up 1.09%), Sun TV Network (up 0.41%) and D B Corp (up 0.31%) surged.

Stocks in Spotlight:

Kalpataru shed 0.42%. The company reported a 5% decline in pre-sales to Rs 1,258 crore in Q2 FY27, compared with Rs 1,329 crore in Q2 FY26. Collections rose marginally to Rs 1,189 crore during the quarter from Rs 1,182 crore in the corresponding quarter last year.

Poonawalla Fincorp jumped 3.57% after Q2 results showed improved profitability and asset quality. On a consolidated basis, the company reported a 406.76% YoY and 21.75% QoQ increase in profit after tax to Rs 375 crore in Q2 FY27, compared with Rs 74 crore in Q2 FY26 and Rs 308 crore in Q1 FY27.

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