Key Asian indices are trading in the red as concern over a global trade war resurfaced after the US said it would slap tariffs on extra $200 bn worth of Chinese imports.
Indian markets seen opening sideways due to weak Asia cues.
Trai has imposed penalties on leading operators, including Jio, Airtel, Vodafone and Idea, for failing to meet various Quality of Service benchmarks in Dec quarter.
Fitch retained its ratings on Bharti Airtel at BBB- along with a stable outlook, citing the unlikelihood of a further drop in tariffs coupled with its rising non-telecom revenue streams.
Telecom giant Airtel got embroiled in a controversy after a subscriber sought to interact with a Hindu customer service representative, a demand which the company said it never accepted.
At 1.16 pm, the wider Nifty50 of NSE traded at 10,719.10 points, down 80.75 points or 0.75 per cent from the previous close of 10,799.85 points.
The BSE Sensex, which had soared over 232 points in intra-day deals, finally closed at 35,483.47 -- up by just 39.80 points.
At 12.38 pm, the wider Nifty50 on NSE was trading at 10,831.30 points, up 63.65 points or 0.59 per cent from the previous close of 10,767.65 points.
The NSE Nifty was down 40 points at 10,696.20 due to emergence of selling mainly in realty, banking, IT and FMCG counters.
Bharti Airtel on Friday announced that Nokia 8 Sirocco, Nokia 7 Plus, and Nokia 6.1 smartphones are available on its online store with down payments starting from Rs 3,799.