Indian shares edged lower on Thursday, reversing recent gains as telecom stocks such as Bharti Airtel slumped after Reliance Industries Ltd (RIL) said it would roll out a fourth-generation network with free voice calls and rock-bottom data prices.
The benchmark BSE Sensex closed 0.10% lower at 28,423.48 on the stock exchange.
The broader National Stock Exchange (NSE) Nifty closed down 0.13% at 8,774.65 on the exchange.
Bharti Airtel shares fell 6.37%, their biggest single-day decline since August 2012, while Reliance dropped 2.73% on the BSE.
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Reliance Jio tariffs put pressure on an already burdened telecom industry