)
The BSE Sensex ended marginally lower on Thursday, retracing from its highest levels in five weeks, as mobile carriers such as Idea Cellular slumped on possible high bidding prices at a spectrum auction next month with eight companies applying.
Consolidation came after shares rose in three of four sessions as of Wednesday, marking a 2.8 per cent gain for the Sensex on rising bets the Reserve Bank of India (RBI) would keep interest rates unchanged at its January 28 meet. The bets of a status quo on rates got a boost after data on Wednesday showed headline inflation fell to a five-month low. The Sensex fell 0.11 per cent, or 24.31 points, to end at 21,265.18, after earlier marking its highest intra-day level since December 9. The Nifty lost 0.03 percent, or two points, to end at 6,318.90, but still managed to close above the psychologically important 6,300 level.
Mobile carriers slumped on concerns over possible high bidding prices at a spectrum auction next month after eight companies applied to bid, signalling stronger competition than expected. Idea Cellular slumped 7.2 per cent, marking its biggest single-day percentage fall since May 2010, while Bharti Airtel fell 4.8 per cent, the most since September 2013. Reliance Communications dropped 4.2 per cent, marginally away from marking its highest intra-day level since August 2013.
