Sensex sluggish; telecom dips as Reliance Jio extends free offer

Equity benchmarks and broader markets remained volatile in afternoon trade. Oil & gas, healthcare and FMCG stocks continued to support the market but the selling in banks and telecom stocks capped upside.

The 30-share BSE Sensex was up 38.36 points at 26691.17 and the 50-share NSE Nifty gained 1.15 points at 8225.65. 

The BSE Midcap was down half a percent amid consolidation as market breadth was negative.

About 1366 shares declined against 1153 advancing shares on the BSE.

Telecom stocks like Bharti Airtel (down 1.5 percent), Idea Cellular (down 3.5 percent) and Reliance Communications (down 4 percent) were under pressure after Reliance Jio Chairman Mukesh Ambani said all subscribers will get voice, data, video and full bouquet free till March 31, 2017. Reliance Industries gained 1 percent.

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