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Tuesday October 6, 10:40 AM
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BSE Sensex turns negative; Bharti, R Com fall
MUMBAI (Reuters) – The BSE Sensex (^BSESN : 16632.01 -222.92
) turned negative in morning deals on Tuesday led by mobile operators Bharti Airtel (BHARTIARTL.BO : 283.65 +2.65
) and Reliance Communications (RCOM.NS : 166.6 -1.5).
"The policies that are coming in may be good for the consumders but are bad for operators. Competition will only intensify further," said V.K. Sharma, research head at Aanagram Stock Broking.
Mobile operators have been cutting their call rates which could hit profitability and on Monday there were media reports that India's telecom regulator plans to ask operators to bill customers on a per-second basis from the current per-minute billing.
The index had risen 0.67 percent earlier.
At 10.16 a.m. (0446 GMT), the 30-share BSE Index was down 0.5 percent at 16,779.50 with half its components down.
The 50-share NSE (^NSEI : 4941.75 -63.8) Index was down 0.56 percent at 4,975.
(Reporting by Janaki Krishnan; Editing by Jarshad Kakkrakandy)
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