The BSE Sensex fell on Wednesday, snapping a two-day rise as mobile carrier stocks dropped on worries about the impact from the entry of a Reliance Industries unit in the sector, though drug makers gained on hopes for improved U.S. sales.
Bharti Airtel shares fell 3.8 percent after Credit Suisse said the potential entry of Reliance Infotel, a unit of energy conglomerate Reliance Industries, into both voice and data segments would pose "significant" risks to incumbent players.
Ranbaxy Laboratories gained 3.8 percent as analysts cited improved sales potential in key U.S markets.
The BSE Sensex provisionally fell 0.21 percent, while the Nifty declined 0.15 percent.
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