Shares of Eros Media, Dish TV, and INOX Leisure, which dropped 10%, 8%, and 4%, respectively, were leading the index’s fall.
Shares of Eros International, a Global Indian Entertainment Company, fell for the fourth consecutive session and trading at 10% lower circuit on the BSE at Rs40.92 in the late morning trade. On Wednesday, rating company CARE cut its creditworthiness, citing delays or likely defaults in serving debt availed from banks.
Shares of TV18 Broadcast, Den Network, Zee Media, and Network 18 also contributed to the fall, declining 3% each. Shares of Zee Entertainment, DB Corp, and Sun TV also dropped 2% each. Shares of Hathway, Jagran, and PVR fell 1% each.
Meanwhile, equity benchmark indices were trading in the green on Monday with the Sensex gaining 100 points at 39,717 levels. The Nifty rose 17 points at 11,888 levels.