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Closing Bell: Sensex rises 50 points, Nifty at 17,360; media stocks jump 3%

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The 30-scrip index Sensex closed 54points higher at 58,305 and the Nifty50 rose 15 points to close at 17,369. The broader market outperformed the benchmarks as midcaps and smallcaps rose 0.30 percent each.

Closing Bell: Sensex rises 50 points, Nifty at 17,360; media stocks jump 3%
The Indian equity benchmark indices, Sensex and Nifty closed higher snapping a two-day losing streak as media and FMCG stocks pump the indices higher.
The 30-scrip index Sensex closed 54 points higher at 58,305 and the Nifty50 rose 15 points to close at 17,369. The broader market outperformed the benchmarks as midcaps and smallcaps rose 0.30 percent each.
Bluechips on Nifty50 that kept it from plunging all the way were Nestle India, Bharti Airtel, ONGC, Hindalco, and Bajaj Finserv. Each scrip contributed nearly 1 to 3 percent to Nifty50. Leading the losses were SBI Life, Titan, HDFC Life, UltraCement, and Bajaj Auto. Each scrip closed 0.5 percent to 4 percent lower.
Among the sectoral gauges, Nifty Auto, FMCG, IT, Media, Metal, PSU Bank, and Oil & Gas closed the day in the green. Nifty Media surged nearly 3 percent. Nifty Bank, Pharma, Realty, Financial Services, and Healthcare indices closed the day in the red.

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Globally, share markets slipped for a third straight day as Beijing took another swipe at its big tech firms.
Europe's regional STOXX 600 flirted with a six-week low in early trading, and MSCI's broadest index of Asia-Pacific shares was last down 1 percent. This would be its worst daily performance since Aug. 19, the last time markets decided they were worried about the U.S. Federal Reserve tapering its massive asset purchase programme.
It was calmer in the commodities markets. Oil prices were steady as production in the US Gulf of Mexico output following Hurricane Ida was slow to come back on line.
With inputs from Reuters