Is the tide turning for Nifty Media? Network 18 emerged as lead gainer in Nifty Media last week

In the last week, Nifty registered gains of 0.82 per cent and ended at record-high closing levels. However, there were a few sectoral indices that outperformed the frontline indices and one of them was Nifty Media.   

Nifty Media has recently caught the eyes of investors on D-Street as Nifty Media was one of the underperformers between February-April this year as it declined nearly 23 per cent from February highs. During the last week, Nifty Media jumped 3.51 per cent and in the second quarter of the calendar year 2021, it gained a staggering 22 per cent. Furthermore, the index has reached levels that were last seen in early 2020.   

Nifty Media comprises 10 stocks and interestingly, during the last week, 8 stocks ended in the green, whereas, only two stocks closed with marginal losses. The top performer stock among Nifty Media was Network 18, followed by DB Corp and TV18 Broadcast. The stock of Network 18 jumped nearly 20.5 per cent while DB Corp soared 17.3 per cent.