Sensex slides 220 pts; media shares decline

The key equity benchmarks traded with major cuts in the morning trade, as the escalating West Asia war keeps oil above $110 per barrel, stoking inflation concerns. The Nifty traded below the 22,750 mark. Media shares extended losses for the third consecutive trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex tanked 219.85 points or 0.30% to 73,489.84. The Nifty 50 index lost 80.30 points or 0.35% to 22,732.50.

In the broader market, the BSE 150 MidCap Index declined 0.37% and the BSE 250 SmallCap Index fell 0.23%.

The market breadth was negative. On the BSE, 1,525 shares rose and 2,216 shares fell. A total of 266 shares were unchanged.

New Listing:

Fusion CX were currently trading at Rs 303.55 at 10:25 IST on the BSE, representing a premium of 5.03% as compared with the issue price of Rs 289.

The stock debuted at Rs 292 on the BSE, a premium of 1.04% over its issue price.

So far, the stock has hit a high of Rs 313.15 and a low of Rs 292. On the BSE, over 8.02 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty Media index fell 1.52% to 1,597.95. The index declined 2.88% in the three consecutive trading sessions.

Zee Entertainment Enterprises (down 3.73%), Tips Music (down 2.38%), Nazara Technologies (down 2.37%), Sun TV Network (down 2.32%), D B Corp (down 1.86%), Network 18 Media & Investments (down 1.51%), MPS (down 1.51%), Prime Focus (down 0.93%), PVR Inox (down 0.42%) and Saregama India (down 0.07%) fell.

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