After opening the day marginally higher, the share markets in India are currently trading below the dotted line. Sectoral indices are trading mixed with stocks in the information technology sector & consumer durables sector leading the gains. While, realty stocks and metal stocks are trading in red.

The BSE Sensex is trading lower by 65 points (down 0.2%) while the NSE Nifty is trading lower by 24 points (down 0.2%). The BSE Mid Cap index and BSE Small Cap index are trading up by 0.2% & 0.1% respectively. Gold prices, per 10 grams, are trading at Rs 28,334 levels. Silver price, per kilogram is trading at Rs 37,871 levels. Crude oil is trading at Rs 3,031 per barrel. The rupee is trading at 64.50 to the US$.

Wipro share price continued to witness buying interest after the company announced a mega buyback offer of Rs 110 billion on Thursday, joining the bandwagon of other IT companies which have rolled out similar offers in the year 2017 to distribute surplus cash to shareholders.

Telecom stocks dropped in the afternoon trade today after Reliance Industries’ Chairman and Managing Director Mukesh Ambani announced the launch of much-awaited 4G feature phone at the company’s 40th annual general meeting.

Telecom stocks fell with Bharti Airtel share price (down 3.2%), Idea Cellular share price (down 6.7%) and Reliance Communications share price (down 2%) taking a big hit.

Ambani announced that the phone will be available at an effective price of Rs 0.

At present, Reliance Jio has 125 million customers. Ambani said that Reliance Jio has on an average added 7 customers per second every single day.

Incumbent telecom operators such as Airtel and Idea Cellular have been reeling under pressure since Reliance Jio entered telecom market.

In news from airlines stocks, Interglobe Aviation (Indigo) share price was trading down by 1% on the BSE after it was reported that the airlines have picked banks to work on an institutional share sale.