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Nifty media, FMGC, realty drop the most in Wednesday’s session

Nifty media ended ~2% in the red on Wednesday on a sharp selloff in Den Networks, Zee Entertainment, and Sun TV.
Nifty media ended ~2% in the red on Wednesday on a sharp selloff in Den Networks, Zee Entertainment, and Sun TV. Nifty realty and FMCG indices too ended down over 1%.

Den Networks led the decline in the media index after falling ~4%, followed by Zee Entertainment (down 3%). Sun TV and DB Corp also contributed to the fall by slipping ~2% each.

Meanwhile, Nifty FMCG also witnessed a 1% fall in Wednesday's session. This was led by declines in the shares of Godrej Consumer Products and Jubilant FoodWorks, which dropped ~4% each. Emami and Dabur also kept the index down by declining ~2% each.

Nifty realty, meanwhile, closed 1% down on the back of a 4% drop in Godrej Properties. HDIL also dragged the index in the red by slumping 3%, while shares of Oberoi Realty and Indiabulls Real Estate declined ~2% each.

The major selloff in these three indices led Nifty to close below its key levels of 11,300, down 44 points. Sensex too witnessed a drop of 170 points to settle at 37,121-levels on Wednesday.

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