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Media Index Falls 5% Monthly, Down 26% Annually
27 Nov
Summary
- Nifty Media index closed up 0.84% today.
- The index has declined 5.00% over the past month.
- Over the last year, the Nifty Media index is down 26.00%.
The Nifty Media index closed today's trading session with a marginal increase of 0.84%, settling at 1460.2. However, this recent uptick masks a concerning downward trend over longer durations. Over the past month, the index has depreciated by 5.00%. Its performance over the last year is even more stark, with a substantial decline of 26.00% compared to the benchmark Nifty 50 index's 7.99% surge.
Despite the broader index's struggles, some constituent companies demonstrated resilience. Saregama India Ltd was a notable performer, jumping 5.09%. Sun TV Network Ltd also saw a significant rise of 3.43%, while Tips Music Ltd added 2.51% to its value today. These gains offered a glimmer of hope amidst the prevailing negative sentiment for the media sector.
In the wider market context, other indices also faced downward pressure, with the Nifty Realty index down 0.72% and the Nifty PSU Bank index sliding 0.58%. The benchmark Nifty 50 index itself managed a modest rise of 0.04%, and the SENSEX added 0.13%. The performance of the Nifty Media index highlights significant challenges within the sector over the past year.
