Market Now: Telecom stocks plunge; Idea Cellular, RCom, Bharti Airtel among top losers

The BSE Telecom index was trading 1.61 per cent down at 1,360 around 12:25 pm (IST) on Wednesday, with shares of GTL Infrastructure (down 9.55 per cent) and OnMobile Global (down 5.17 per cent) as the top losers. Shares of Himachal Futuristic Communications (down 5.12 per cent), Aksh Optifibre (down 4.93 per cent), GTL (down 4.12 per cent), Idea Cellular (down 3.60 per cent), Tejas Networks (down 2.49 per cent), Reliance CommunicationsBSE -2.47 % (down 2.28 per cent) and Bharti Airtel (down 2.03 per cent) were also in the red in the index. Meanwhile, Mahanagar Telephone NigamBSE 0.71 % (up 0.94 per cent) and Bharti Infratel (up 0.83 per cent) were trading with gains.


Benchmark BSE Sensex was 202 points down at 33,115, while the NSE Nifty50 index was down 73 points at 10,177. Among the 50 stocks in the Nifty index, 14 were trading in the green, while 36 were in the red. HDFC, Bajaj Auto and Tata Motors were among the gainers in the Sensex kitty of stocks.