NEW DELHI: Most telecom stocks were suffering losses during afternoon trade on Monday.The BSE Telecom index was trading 1.20 per cent down at 1,197 around 01:30 pm, with 15 stocks declining and 2 stocks advancing.
Shares of ITI (down 7.98 per cent), Aksh Optifibre (down 6.27 per cent), GTL (down 4.98 per cent), GTL Infrastructure (down 4.97 per cent) and Reliance Communications (down 4.86 per cent) were the top losers in the telecom index.Vindhya Telelinks (down 3.98 per cent), Sterlite Technologies (down 2.66 per cent), GTPL Hathway (down 2.36 per cent), Tata Teleservices (Maharashtra) (down 2.34 per cent) and MTNL (down 2.18 per cent) also found themselves in the bottom of the index.OnMobile Global (down 1.77 per cent), Bharti Airtel (down 1.53 per cent), Bharti Infratel (down 1.12 per cent) and Tejas Networks (down 0.21 per cent) were also under pressure.Meanwhile, Himachal Futuristic Communications (up 2.81 per cent) and Idea Cellular (up 2.35 per cent) were the two stocks that were up around that time.
Idea Cellular added maximum number of subscriber in April 2018, according to the data released by the COAI on Friday.Equity markets were trading in the negative zone on selling in bank, realty, financial, auto and FMCG stocks.Investors restricted their bets ahead of RBI's monetary policy review meeting that concludes tomorrow.Benchmark BSE Sensex was 96 points down at 35,131, while the NSE Nifty50 index was down 34 points at 10,662.Among the 50 stocks in the Nifty index, 18 were trading in the green, while 32 were in the red.In the Sensex index, 11 stocks were trading up, while 20 were trading down.