Indian markets are showing significant strength and looking bullish compared to foreign markets. Boarder Indices in NSE and BSE are trading at their all-time highs.
Today, on the last trading session of the week the market witnessed some kind of profit booking. Nifty50 Index concluded the day at 19331.80 down by 165.50 points. Furthermore, the majority of the stocks of Nifty50 ended the day in red. Out of 50 stocks, 44 stocks closed in red, five stocks closed in green whereas one stock concluded the day flat.
In this article, we are going to examine the Nifty Media Index, which opened at 1828.20 and concluded the day 3.91% up at 1895.55. During the intraday session, it touched a high of 1908.85 and a low of 1814.15. Its 52-week highs and lows are 2236.10 and 1636.65.
The Media index has outperformed almost every other sectoral index in the NSE and has generated a return of 8.7% in the last week emerging as the top gainer among all. It has generated a return of 9.3% in the last three months. If we examined both the returns it can be clearly seen that this week the index and its components have started performing and have given 8.7% returns.
If we compare the returns of the Media Index with the Nifty50 returns, then Nifty Media generated a return of 8.7% in this week, whereas Nifty50 generated a return of 0.74% in the same period.
In the last three months, the Nifty50 index has generated a return of 9.7% which is more or less the same compared to the returns of the Nifty Media Index which is around 9.3%.
Today’s Top Gainers:
| Company Name | CMP Rs | % Change |
| Zee Entertainment | 205.7 | 8.63% |
| PVR Inox | 1438.0 | 4.57% |
| Dish TV India | 18.0 | 3.44% |
| Network 18 | 64.3 | 1.18% |
| TV 18 Broadcast | 39.0 | 0.77% |
Top Five Performer Companies Based on net profit in FY23:
| Company Name | Sales FY23 Rs Cr | OPM % | Net Profit FY23 Rs Cr |
| Sun TV Network | 3,772 | 63% | 1,707 |
| Navneet Education | 1,697 | 17% | 204 |
| TV 18 Broadcast | 5,912 | 3% | 128 |
| Hathway Cables | 1,858 | 17% | 65 |
| Nazara Technologies | 1,091 | 101% | 61 |
Top Five Companies Based on Stock Performance in the Last one week:
| Company Name | CMP Rs | 1 Week Return % |
| Dish TV India | 18.0 | 23.63% |
| Zee Entertainment | 206.4 | 16.24% |
| Hathway Cable | 15.5 | 5.44% |
| Sun TV Network | 461.0 | 5.25% |
| PVR Inox | 1439.8 | 4.83% |
Technically, on the daily time frame, it is trading above three key moving averages which are 20 days, 50 days, and 100 days moving average. Whereas it has faced a hurdle at its 200-day moving average today, but finally closed above it. The RSI on the daily time frame is 73.61 and on the weekly time frame, it is at 57.92.
Nifty media on a weekly time frame formed a big fat green candle on charts. Below is the chart presentation of the same.
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