Market Now: Telecom stocks ringing; RCom leads the rally

NEW DELHI: Most of the telecom stocks, including Reliance Communications (up 19.83 per cent), GTL (up 7.59 per cent), GTL Infrastructure (up 5.94 per cent) and Idea Cellular (up 3.96 per cent) boosted the BSE Telecom index in Friday's trade.

The S&P BSE Telecom index was trading nearly 2 per cent up at 1,678 around 11:15 am (IST).

Shares of Bharti Infratel (up 1.86 per cent), Mahanagar Telephone Nigam (up 1.40 per cent), Tata Teleservices (Maharashtra) (up 0.72 per cent), Bharti Airtel (up 0.58 per cent) and Tata Communications (up 0.50 per cent) were also in the positive zone.


Shares of Vindhya Telelinks (down 0.55 per cent) and ITI (down 0.07 per cent) were marginally down in the telecom index around that time.

Benchmark BSE Sensex was 165 points up at 34,013, while the NSE Nifty50 index was 44 points up at 10,522.

Among the 50 stocks in the Nifty50 index, 36 were trading in the green, while 14 were in the red.

Tata Motors, Asian Paints, Sun Pharma, Axis Bank, Maruti Suzuki and Tata Consultancy Services were trading among the gainers in the Sensex index.

Wipro, Mahindra & Mahindra and Dr Reddy's Lab were seen under selling pressure.