Nifty below 24,950; media shares advance

The key equity benchmarks traded with modest cuts in early afternoon trade, as investors remained cautious despite easing crude oil prices and renewed foreign fund inflows. Market participants also assessed the ongoing Q2 FY27 corporate earnings announcements for cues on the earnings outlook. The Nifty slipped below the 24,950 mark. Media shares extended gains for the second consecutive trading session.

At 12:30 IST, the barometer index, the S&P BSE Sensex declined 268.13 points or 0.35% to 80,719.84. The Nifty 50 index shed 83.55 points or 0.33% to 24,905.10.

In the broader market, the BSE 150 MidCap Index declined 0.18% and the BSE 250 SmallCap Index fell 0.18%.

The market breadth was negative. On the BSE, 1,733 shares rose and 2,439 shares fell. A total of 267 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 5.67% to 17.39. The Nifty 23 November 2026 futures were trading at 24,962.70 at a premium of 57.6 points as compared with the spot at 24,905.10.

The Nifty option chain for the 23 November 2026 expiry showed a maximum call OI of 52.2 crore contracts at the 25,000 strike price. A maximum put OI of 56.2 crore contracts was seen at the 23,500 strike price.

Buzzing Index:

The Nifty Media index added 0.90% to 1,714.35. The index jumped 2.53% in the two consecutive trading sessions.

Zee Entertainment Enterprises (up 1.77%), PVR Inox (up 1.11%), Network 18 Media & Investments (up 0.96%), Saregama India (up 0.88%), Sun TV Network (up 0.81%), Nazara Technologies (up 0.76%), and D B Corp (up 0.28%) rose.

Powered by Capital Market - Live News