Share market update: Telecom shares fall; RCom slumps over 8%

NEW DELHI: The S&P BSE Telecom index was down in Monday's afternoon session with most of its components trading in the red.

Shares of Reliance Communications (down 8.39 per cent), GTL Infrastructure (down 4.04 per cent), Aksh Optifibre (down 3.80 per cent), and Vindhya Telelinks (down 3.61 per cent) were the worst performers in the index.

Tata Teleservices (Maharashtra) (down 3.53 per cent), Sterlite Technologies (down 3.35 per cent), Vodafone Idea (down 2.81 per cent), and Himachal Futuristic Communications (down 2.42 per cent) were trading with losses.

The S&P BSE Telecom index was trading 0.60 per cent down at 1037.31 around 12:19 pm.

Benchmark NSE Nifty50 index was up 5.35 points at 11,432.20 while the BSE Sensex was down 4.06 points at 38,020.26.

Among the 50 stocks in the Nifty index, 26 were trading in the green, while 23 were in the red.

Shares of Bharti Infratel, Suzlon Energy, Reliance Communications, Reliance Power, Reliance Capital, PNB, Ashok Leyland, DHFL, South Indian Bank, IDBI Bank, NBCC, Indian Oil Corp, Bombay Dyeing, JP Associates and YES Bank were among the most traded shares on the NSE.