Stock market update: Telecom index slips; Bharti Infratel among top losers
NEW DELHI: The BSE Telecom index was trading 0.29 per cent down at 1,197 around 2 pm on Thursday, with Sterlite Technologies (down 2.25 per cent), ITI (down 1.75 per cent) and Himachal Futuristic Communications (down 1.39 per cent) as the top losers.
Shares of GTPL Hathway (down 1.16 per cent), Bharti Infratel (down 0.98 per cent), GTL Infrastructure (down 0.67 per cent) and GTL (down 0.51 per cent) were also incurring losses.
Tata Teleservices (Maharashtra) (down 0.40 per cent), Aksh Optifibre (down 0.32 per cent), Reliance Communications (down 0.31 per cent), Tejas Networks (down 0.21 per cent) and Vindhya Telelinks (down 0.12 per cent) were also spotted in the bottom of the index.
Domestic equity markets were down amid concerns of inflation and widening current account deficit (CAD).
Inflation based on wholesale prices shot up to a 14-month high of 4.43 per cent in May on increasing prices of petrol and diesel as well as vegetables, PTI reported.
Benchmark BSE Sensex was 155 points down at 35,584, while the NSE Nifty50 index was down 59 points at 10,798.
In the Sensex index, 10 stocks were advancing and 21 were declining in trade.
ICICI Bank, TCS, Adani Ports and State Bank of India were among the top losers in the Sensex index.