Media stocks joined the Wednesday’s selloff to trade 1% lower. Cable and broadband companies
Dish TV and Hathway led the losses.
PVR and TV Today were the only Nifty 50 media companies trading in the green.
At around 2.50 pm, Nifty Media was trading at 1,664.25 down 15.80 points or 0.94%, touching a low of 1,656.25 during intraday trade on Wednesday.
Dish TV shed 4% to trade at Rs12.05 per piece. Hathway was 1.80% down to trade at Rs29.80
per piece.
ZEEL (down 1.39%), Sun TV (down 1.36%) and Jagran (down 1.35%) also were among the major losers on Wednesday.
Inox Leisure Limited has commenced the commercial operations of cinema, at R Mall, Ghodbunder Road, Thane with effect from January 26, 2021. However the company failed to impress the investors as its stock was trading 0.66% lower.
DB Corp and TV18 Broadcast were also trading in the red.
PVR gave some solace to the sector by gaining 0.74% to trade at 1,473.65 per piece. TV Today was trading at Rs247.65 up Rs0.80 or 0.32%.
On Nifty 50, the media sector had 2 advances and 8 declines.