Nifty Media rides on market bulls; Index surges 2%; TV18 Broadcast skyrockets 9%

2 Feb 2022 , 12:38 PM

Nifty Media was bullish on Wednesday, tracking upbeat markets a day after the Union budget was announced. TV18 Broadcast surged 9% to lift the performance of the sector. DishTV, Network18 Media & Investments, and Nazara Tech were also in the fast lane. All the stocks on the NSE are traded in the green.

Sensex extended gains touch 59500, Nifty needs to hold 17600. Markets tracked positive global cues. At around 1.00 pm, BSE Sensex was trading at 59,436.10 up 573.53 points or 0.97% and Nifty50 at 17,739.20 up 162.35 points or 0.92%. Nifty Media was trading at 2,289.00 up 41.80 points or 1.86%, touching a high of 2,305.20 and low of 2,267.05 during intraday trade on Wednesday.

TV18 Broadcast skyrocketed 8.5% at Rs61.55 per piece to outperform. The company has been in the fast lane after annoucing quarterly earnings last week.

DishTV was nearly 4% higher at Rs17.25 per piece.

Network18 the parent company of TV18 has also been mostly bullish post quarterly earnings announcement. It was trading 3.33% higher at Rs85.30 per piece. 

Nazara Tech was also 2.7% higher to add to the sectorial gains. Sun TV and ZEEL also gained 1.5% and 1% respectively. 

PVR was trading marginally higher in an all green sector.