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Bloodbath on Dalal Street; media & entertainment see red with Balaji leading fall

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MUMBAI: There was bloodbath on the bourses as the benchmark Bombay Stock Exchange (BSE) Sensex crashed below the 23,000-level to close at 22,951.83, down 807.07 points (3.45 per cent) on Thursday, 11 February, 2016.

The Nifty also crashed 232.30 points or 3.21 per cent to close the day at 6,983.40.

Amongst other sectors that bore the brunt of this melt down, was also the media and entertainment sector, which saw red. Bucking the trend was Videocon Industries, which closed the day up 0.05 per cent at Rs 107.90 as compared to its previous day close of Rs 107.85.

Balaji Telefilms was amongst one of the biggest losers with the stock slumping 14.57 per cent to close the day at Rs 89.70 as compared to its previous day close of Rs 105.

Eros International Media slumped 12.40 per cent to Rs 156.85, down Rs 22.20 from its previous close of Rs 179.05.

DQ Entertainment (International) was down 10 per cent to close the day at Rs 23.85 as compared to its previous day’s close of Rs 26.50.

B.A.G Films & Media was down 9.87 per cent at Rs 3.47. Also affected was the direct to home (DTH) company Dish TV India, which closed the day at Rs 72.45, down 8.75 per cent.

TV Today Network was down 7.16 per cent to close the day at Rs 280.60 and touched an intra day low of Rs 277.10.

Network18 Media & Investments as well as Shemaroo Entertainment were down 6.32 per cent. While Shemaroo closed the day at Rs 249.10, Network18’s stock price stood at Rs 41.50 at the end of day’s trade.

With a drop of 6.16 per cent, Saregama India closed the day at Rs 251.20, whereas multi system operator (MSO) Hathway Cable & Datacom lost 5.39 per cent to close the day at Rs 35.10.

Den Networks dipped 5.22 per cent to close at Rs 66.30 after touching an intra-day high of Rs 71. Meanwhile Zee Learn was down 5.08 per cent to close at Rs 32.70.

The Maran-owned Sun TV Network was down 4.48 per cent with the stock closing at Rs 326.40.

MSO Siti Cable Network at Rs 33.10 was down 4.20 per cent as compared to its previous close of Rs 34.55.

After opening at Rs 195.80 and touching an intra-day high of Rs 196, the Orissa based MSO Ortel Communications was also in the red, down 2.76 per cent to close the day at Rs 180 as compared to its previous day close of Rs 185.10.

PVR’s stock was down 2.68 per cent to close the day at Rs 709.75. The company’s shares touched an intra-day high of Rs 735.80 and an intra-day low of Rs 695.

Zee Entertainment Enterprises Limited (ZEEL) was down 2.64 per cent. The stock closed at Rs 369.40 from its previous close of Rs 379.40.

Jagran Prakashan was down 2.31 per cent to close at Rs 156.30, whereas Zee Media Corporation closed at Rs 17.75 and was down 2.20 per cent.

Entertainment India Ltd (ENIL) was down 1.64 per cent to close at Rs 673.30, while HT Media’s shares were down 0.46 per cent to close at Rs 75.65. Tips Industries’ stock closed at Rs 61.95, down 0.24 per cent.

NDTV India remained at its previous day’s close of Rs 102.20 witnessing no change. The stock, however, touched an intra-day low of Rs 99.10.

Share prices of all the companies in the 15 stock Nifty Media Index fell today. The Index was down 3.75 per cent, a fall that was more than the 3.32 per cent drop by the NSE Nifty 50.

The Nifty Media Index opened at the start of the trading day at 2261.35 points, which was the high for the day. The Media Index witnessed a low of 2161.50, with the last traded price of 2177.45. The volume traded today was 127.36 lakhs (12.74 million) with a traded value of Rs 185.48 crore

Although more shares of TV18 Broadcast changed hands (69.02 lakh, traded value Rs 26.12 crore), Zee Entertainment (Zeel) saw a traded value of Rs 93.22 crore (a little more than 50 per cent of the Media Index traded value for the day) on a volume of 25.04 lakh. Sun TV was another actively traded stock that saw volumes of 8.81 lakh on a traded value of Rs 29.42 crore.

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