Sensex strengthened by 580 points, ZEE shares fell 10%
The stock market opened on the green mark on Tuesday. Sensex opened with a gain of 390.88 points at 71746.10 and Nifty opened with a gain of 130.40 points at 21,643.40. After some time, Sensex saw a rise of 445 points and Nifty saw a rise of 141 points. During early trading, out of 30 Sensex stocks, 28 were seen rising and only 2 were declining. More growth is being seen in banking, auto, and IT shares.
Shares of Zee Entertainment fell by a huge 10% as they opened today. This decline has come after the news that the company’s $10 billion merger deal with Japan’s leading entertainment company Sony may fall apart. Sony and ZEE signed an agreement about 2 years ago to merge their businesses in India. However, now such information is coming that Sony is considering not going ahead with this deal.
Data show that today on January 9, about 1.35 crore shares of Zee Entertainment, or 1.4 percent stake were transacted on the stock exchanges. These shares were sold at an average price of Rs 252.
At 10.53 am, Sensex is trading at 71,935.56 with a gain of 580.34 (0.81%) points, while Nifty is trading at 21,691.80 with a gain of 178.80 (0.83%) points.