The S&P BSE Sensex gained 57 points to end at 26,064 and the Nifty50 climbed 17 points.
The 30-share Sensex ended up 8 points at 27,508 and the 50-share Nifty closed 1 point higher at 8,284.
The telecom industry is moving towards a five-plus one model.
Investors engaged in profit booking in the recent gainers at attractive and higher valuations.
Surprisingly, RIL scrip also fell by 2.73 per cent to 1,029.15, becoming the second biggest loser in the index
This is the first time airwaves in 700 Mhz band will be put up for auction
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Shedding its gains from Monday, NIkkei has declined around 0.7% while Hang Seng and Shanghai Composite were trading marginally lower.
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Of the 11 licence holders, only eight remain in the fray as concerns about profitability and rising competition are making them think twice before jumping in.
After a two year run-in with controversies, telecom sector now looks stable and seems back on its feet with initial investment proposal of over Rs 11,000 crore (Rs 110 billion) received in 2013.
India Inc has few leaders who are likely to grab headlines in 2015.
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