Equity indices drop amid volatility, Zee Entertainment up 32 pc

Mumbai (Maharashtra) [India], Sep 22 : Equity indices closed in the negative terrain on Wednesday as traders navigated cautiously while assessing the impact of struggling Chinese developer Evergrande Group on India.
At the closing bell, the BSE S&P Sensex was down by 78 points or 0.13 per cent at 58,927 while the Nifty 50 lowered by 15 points or 0.09 per cent to 17,547.
Sectoral indices were mixed with Nifty media advancing by 14 per cent and realty by 8.4 per cent. But Nifty financial service and private bank were in the red.
Among stocks, Zee Entertainment jumped 32 per cent to Rs 337.10 per share after the merger deal with Sony Pictures India.
Tech Mahindra was up by 3.6 per cent, HCL Technologies by 1.3 per cent, Hindalco by 2.7 per cent, Tata Motors by 2.7 per cent and Reliance Industries by 1 per cent.
However, Nestle India, Hindustan Unilever, Axis Bank, ICICI Bank and Kotak Mahindra Bank traded with a negative bias.
Meanwhile, Asian markets were mixed. Japan's Nikkei was down 0.67 per cent while Hong Kong shares climbed 0.51 per cent. South Korea's Kospi too was up by 0.33 per cent.