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Market Commentary - Mid-Session

Sensex, Nifty trade in positive terrain; media shares jump

19-Mar-2025, 12:30
The key equity barometers continued to trade with decent gains in early-afternoon trade. The Nifty traded a tad above the 22,900 level. Media shares extended gains for the second consecutive trading session.

At 12:25 IST, the barometer index, the S&P BSE Sensex, advanced 161.36 points or 0.21% to 75,463.90. The Nifty 50 index added 71.15 points or 0.31% to 22,905.45.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 1.79% and the S&P BSE Small-Cap index added 1.80%.

The market breadth was strong. On the BSE, 2,928 shares rose and 938 shares fell. A total of 144 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 0.96% to 13.34. The Nifty 27 March 2025 futures were trading at 22,955, at a premium of 49.55 points as compared with the spot at 22,905.45.

The Nifty option chain for the 27 March 2025 expiry showed a maximum call OI of 61.4 lakh contracts at the 23,000 strike price. Maximum put OI of 81.8 lakh contracts was seen at 22,500 strike price.

Buzzing Index:

The Nifty Media index rose 1.12% to 1,496.80. The index jumped 4.78% for the second consecutive trading sessions.

Network 18 Media & Investments (up 3.92%), Hathway Cable & Datacom (up 3.65%), Den Networks (up 3.17%), PVR Inox (up 2.15%) and Dish TV India (up 1.8%), Nazara Technologies (up 1.54%), Saregama India (up 1.04%), Sun TV Network (up 0.74%), Zee Entertainment Enterprises (up 0.35%) and Tips Music (up 0.32%) advanced.

Stocks in Spotlight:

PDS added 1.11% after the company has announced that its associate company, Pangram Celebrity Brands, has incorporated a new wholly owned subsidiary in India, named Kontemporary Koncepts, effective from 18 March 2025.

KPI Green Energy rose 4.15% after the company secured a Rs 272 crore final sanction from the national bank for financing infrastructure and development (NaBFID) to fund a 50 MW hybrid project in Bharuch, Gujarat, with 75.2 MWp solar and 16.95 MW wind capacity.