Market Now: Telecom stocks fall; Tata Tele cracks 5%
NEW DELHI: Tata Teleservices (Maharashtra) (down 4.92 per cent), Reliance Communications (down 4.12 per cent), Bharti Infratel (down 3.17 per cent) and Sterlite Technologies (down 3.11 per cent) were trading down in afternoon trade on Tuesday.
The S&P BSE Telecom index was trading 1.04 per cent down at 1,578 around 01:25 pm (IST).
Shares of Himachal Futuristic Communications (down 1.93 per cent), OnMobile Global (down 1.84 per cent), GTL Infrastructure (down 1.62 per cent), Mahanagar Telephone Nigam (down 1.53 per cent) and Idea Cellular (down 1.02 per cent) were also in the red.
However, shares of Aksh Optifibre (up 1.49 per cent), Tata Communications (up 0.88 per cent), ITI (up 0.73 per cent), GTL (up 0.35 per cent) and Bharti Airtel (up 0.19 per cent) were trading up around that time.
Benchmark BSE Sensex was 31 points down at 33,003, while the NSE Nifty50 index was 21 points down at 10,204.
Among the 51 stocks in the Nifty50 index, 23 were trading in the green, while 26 were in the red.
Axis Bank, Hero MotoCorp, Lupin, Bajaj Auto, Cipla, Reliance Industries, Mahindra & Mahindra and Maruti Suzuki were among the gainers in the Sensex index.
On the other hand, Larsen & Toubro, Power Grid Corporation, Tata Consultancy Services, Sun Pharma, Asian Paints and Oil & Natural Gas Corporation were among the top losers.
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Via:: Economic Times – Stocks