Even in a weak market, when headline indices are swinging between losses and gains, Nifty Media was one sector among the Nifty sectoral indices which gained to a day's high of 1755, as much as 4 percent, while 52-week high for the Nifty Media index has been 1830.
At the time of writing this report, there was gain of over 3 percent on the Nifty Media pack.
Individually, the stocks that have been contributing to the index gains are Zee Entertainment,Dish TV, TV18 Broadcast, PVR and Navneet, while the drag came from Hathway Cable, Sun TV Network and TV Today.
Other components such as Dish TV has hit an upper circuit with only buyers in the counter.
For majority of the stocks from the pack including DB Corp, Dish TV, Inox Leisure, Jagran Prakashan there is held a 'Very Bullish' stance.
Sanjiv Bhasin, IIFL, on a business channel, was highly bullish on the Media pack and said the sector as a whole is in for a re-rating.