Market Now: BSE Telecom index in the red; Bharti Infratel, Idea Cellular top drags

NEW DELHI: Telecom stocks Himachal Futuristic Communications (down 1.62 per cent), Bharti Infratel (down 1.42 per cent), OnMobile Global (down 1.12 per cent), Bharti Airtel (down 1.02 per cent), Idea Cellular (down 0.79 per cent), Tejas Networks (down 0.60 per cent) and ITI (down 0.25 per cent) were trading in the negative zone in Wednesday's trade.

The S&P BSE Telecom index was trading 0.85 per cent down at 1,573 around 10:40 am (IST).

However, shares of Reliance Communications (up 2.60 per cent), Sterlite Technologies (up 1.90 per cent), Tata Teleservices (Maharashtra) (up 1.64 per cent) and Mahanagar Telephone Nigam (up 1.16 per cent) were trading up around that time.

Benchmark BSE Sensex was 31 points up at 33,510, while the NSE Nifty50 index was 4 points down at 10,323.

Among the 50 stocks in Nifty50 index, 19 were trading in the green, while 31 were in the red.

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Adani Ports, HDFC, Bajaj Auto, Tata Motors, Mahindra & Mahindra and Cipla were trading up in the Sensex index.

Dr Reddy's, Bharti Airtel, Sun Pharma, Axis Bank, State Bank of India and Power Grid Corporation were among the losers of Sensex kitty.