Home Market Stock market update: Idea Cellular, Bharti Infratel drag BSE Telecom index down

Stock market update: Idea Cellular, Bharti Infratel drag BSE Telecom index down


NEW DELHI: Losses in shares of Idea Cellular (down 3.13 per cent), OnMobile Global (down 1.55 per cent), Bharti Infratel (down 0.99 per cent) and Himachal Futuristic Communications (HFCL) (down 0.60 per cent) weighed on the telecom pack in Wednesday's session.

The BSE Telecom index was trading 0.15 per cent down at 1,167 around 02:40 pm.

Shares of Bharti Airtel (up 0.04 per cent) and Tata Communications (down 0.07 per cent) were nearly flat around that time.

However, shares of Tata Teleservices (Maharashtra) (up 6.35 per cent), Tejas Networks (up 5.14 per cent) and GTL Infrastructure (up 4.58 per cent) witnessed strong traction.

ITI (up 1.41 per cent), Reliance Communications (up 1.25 per cent), GTPL Hathway (up 1.21 per cent), Mahanagar Telephone Nigam (up 1.01 per cent), Vindhya Telelinks (up 0.63 per cent), Aksh Optifibre (up 0.49 per cent) and Sterlite Technologies (up 0.19 per cent) too found themselves among the gainers.

Equity market was reflecting cautious mood ahead of August series F&O expiry scheduled tomorrow. A fresh fall in the Indian rupee against the US dollar too hit the sentiment.

Benchmark BSE Sensex was 69.8 points down at 38,826.83, while the NSE Nifty50 index was down 24.90 points at 11,713.60.

Among the 50 stocks in the Nifty index, 24 were trading in the green, while 26 were in the red.

In the Sensex index, 17 stocks were advancing, while 14 were declining.

State Bank of India, Tata Steel and ONGC were leading among Sensex gainers.

Coal India, PowerGrid and Reliance Industries were among the top losers in the Sensex index.

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