Stock Market Update: Telecom Stocks Fall Up To 5%; Rcom, MTNL among Top Losers
On Monday, Almost all telecom stocks were suffering losses in afternoon trade.
At around 3 pm, the BSE Telecom index was trading 0.62 per cent down at 1,163.
The stocks those were the top losers in the telecom index are On Mobile Global, Tejas Networks, Reliance Communications and MTNL.
These stocks also declined in that order – Aksh Optifibre, Himachal Futuristic Communications, Vindhya Telelinks, Tata Teleservices and Sterlite Technologies.
Shares of GTL, Bharti Airtel and Bharti Infratel too were in the red.
On the other hand, shares of GTL Infrastructure, ITI and Vodafone Idea were in the green around that time.
Today, the benchmark BSE Sensex was 427 points down at 37,963, while the NSE Nifty50 index was down 142 points at 11,447.
Out of 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.