Stock market update: Telecom stocks fall up to 5%; RCom, MTNL among top losers

NEW DELHI: Most telecom stocks were suffering losses in afternoon trade on Monday.

The BSE Telecom index was trading 0.62 per cent down at 1,163 around 02:40 pm.

OnMobile Global (down 4.70 per cent), Tejas Networks (down 3.77 per cent), Reliance Communications (down 1.74 per cent) and MTNL (down 1.64 per cent) were the top losers in the telecom index.


Aksh Optifibre (down 1.62 per cent), Himachal Futuristic Communications (down 1.61 per cent), Vindhya Telelinks (down 1.58 per cent), Tata Teleservices (Maharashtra) (down 1.21 per cent) and Sterlite Technologies (down 1.20 per cent) declined in that order.

Shares of GTL (down 0.78 per cent), Bharti Airtel (down 0.74 per cent) and Bharti Infratel (down 0.67 per cent) too were in the red.

However, shares of GTL Infrastructure (up 2.13 per cent), ITI (up 1.91 per cent) and Vodafone Idea (up 0.53 per cent) were in the green around that time.

Benchmark BSE Sensex was 427 points down at 37,963, while the NSE Nifty50 index was down 142 points at 11,447.

Among the 50 stocks in the Nifty index, 8 were trading in the green, while 42 were in the red.

In the Sensex index, six stocks were advancing and 25 were declining.

Axis Bank, Infosys and YES Bank were among the gainers in the Sensex index.

Sun Pharma, Vedanta and Mahindra & Mahindra were among the top losers in the Sensex kitty of stocks.