Share market update: Telecom stocks down; Idea Cellular, Bharti Infratel top losers
NEW DELHI: A majority of telecom stocks were suffering losses in afternoon trade on Friday.
The BSE Telecom index was trading 0.48 per cent down at 1,176 around 02:40 pm.
Vindhya Telelinks (down 4.33 per cent), Tata Communications (down 3.75 per cent), Idea Cellular (down 3.29 per cent), GTL (down 2.05 per cent) and Bharti Infratel (down 1.50 per cent) were among the top losers in the index.
Himachal Futuristic Communications (HFCL) (down 1.41 per cent), Aksh Optifibre (down 1.23 per cent), Sterlite Technologies (down 0.84 per cent), ITI (down 0.73 per cent), Reliance Communications (down 0.65 per cent) and MTNL (down 0.31 per cent) were also trading in the negative zone.
Tata Teleservices (Maharashtra) (up 1.94 per cent), Tejas Networks (up 1.43 per cent), Bharti Airtel (up 1.08 per cent), GTL Infrastructure (up 0.68 per cent), OnMobile Global (up 0.36 per cent) and GTPL Hathway (up 0.26 per cent) were in the green in the index.
Benchmark NSE Nifty50 index was down 44 points at 11,427, while the BSE Sensex was 140 points down at 37,885.
Reliance Industries, HDFC twins, State Bank of India and Larsen & Toubro were among the major drag on Sensex.
Among the 50 stocks in the Nifty index, 18 were trading in the green, while 32 were in the red.
In the Sensex index, 12 stocks were up, while 19 were down.