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Markets snap 3-day winning streak as telcos trip

Reliance Industries fell 2% after Mukesh Ambani announced at the 42nd AGM that Jio will be launched on September 5

Surabhi Roy  |  Mumbai 

Markets snapped three day winning streak with telecom shares leading the decline after Reliance Industries announced the launch of Reliance Jio with disruptive pricing strategy in addition to voice calls and national roaming free of cost. The S&P BSE Sensex ended down 29 points at 28,423 and the Nifty50 slipped 12 points to settle at 8,775.

In the broader market, the BSE Midcap and Smallcap indices ended down 0.4% each, underperforming the benchmark indices. Mukesh Ambani, Chairman of Reliance Industries (RIL) at the company's annual general meeting today announced the launch of ...

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First Published: Thu, September 01 2016. 15:33 IST

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