Market Now: Telecom index in the red; RCom top drag

NEW DELHI: The BSE Telecom index was trading in the negative territory during afternoon trade on Wednesday.

The BSE Telecom index was trading 0.24 per cent down at 1,191 around 12:50 pm with Reliance Communications (down 16.87 per cent) as the top drag.

Shares of GTL (down 7.66 per cent), GTL Infrastructure (down 4.65 per cent), Tata Teleservices (Maharashtra) (down 3.36 per cent) saw heavy selling.

GTPL Hathway (down 1.78 per cent), Vindhya Telelinks (down 1.37 per cent), Himachal Futuristic Communications (down 1.35 per cent), Tejas Networks (down 1.27 per cent), MTNL (down 1.19 per cent), OnMobile Global (down 0.25 per cent) and Bharti Airtel (down 0.05 per cent) were also in the red.

However, shares of Aksh Optifibre (up 3.54 per cent), ITI (up 0.94 per cent), Idea Cellular (up 0.57 per cent), Tata Communications (up 0.36 per cent), Sterlite Technologies (up 0.28 per cent) and Bharti Infratel (up 0.26 per cent) were in the green.

Equity benchmarks pared some losses on gains in Hindustan Unilever, YES Bank and Wipro.

The BSE Sensex was 101 points down at 35,443, while the NSE Nifty50 index was down 40 points at 10,762.

In the Sensex index, 14 stocks were advancing, whereas 17 were declining in trade.

Hero MotoCorp, ICICI Bank and Adani Ports were among the top losers in the Sensex index.

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