NSE index lost 0.03 percent, or 2 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 much stronger competition than expected.
Idea Cellular Ltd slumped 7.2 percent, marking its biggest single-day percentage fall since May 2010, while Bharti Airtel Ltd fell 4.8 percent, the most since September 2013.
Reliance Communications dropped 4.2 percent, just marginally away from marking its highest intraday level since August 2013.
LIC Housing Finance fell 1 percent after its December-quarter net profit rose by 38.2 percent to 3.27 billion rupees, falling short of some analysts' expectations.
TCS fell 0.1 percent ahead of its October-December results later in the day.
However, HCL Technologies Ltd rose 4.5 percent after earlier rising to a record high of 1,398 rupees after the company's December-quarter consolidated net profit rose more than expected.
Bajaj Auto rose 0.7 percent after the company reported a better-than-expected 10.5 percent increase in quarterly net profit, helped by foreign exchange gains and as higher revenues from exports helped offset weak demand for its vehicles.
FACTORS TO WATCH
* Aussie dollar slumps to 3-1/2-year low after jobs data
* Oil falls below $107 as supply outlook improves
* Stocks, dollar cheered by global economy pick-up
* Foreign institutional investor flows