Sensex cuts initial gains, still up by 50 pts in late morning

The benchmark Sensex erased some of

its initial gains following mild selling mainly in auto,

finance and capital goods stocks.

The 30-share Sensex resumed higher at 32,411.86 and

hovered in a range of 32,614.89 and 32,393.33 before quoting

32,439.12 at 1100 hours, a rise of 49.16 pts or 0.15 per cent.

The S&P BSE Mid-Cap index rose 0.46 per cent and the S&P

BSE small-cap index also gained 0.12 per cent.

The NSE 50-share Nifty was also trading up by 17.00

points or 0.17 per cent to 10,163.55.

Major gainers were BhartiAirtel (2.76 pct), HeroMotco

(1.55 pct), ICICI Bank (1.49 pct), Reliance (1.44 pct),

Adaniport (1.39 pct), Coal India (1.33 pct) and Sunpharma

(1.28 pct).

However, Axis Bank fell by 1.74 pct followed by

TataMtrDvr 1.47 pct, HDFC 1.28 pct and Bajaj Auto 1.27 pct.

Foreign portfolio investors (FPIs) sold shares worth a

net Rs 43.74 crore last Thursday, as per provisional data

released by the stock exchanges.

Domestic institutional investors (DIIs) bought shares

worth a net Rs 40.78 crore.

Most of Asian stocks gained as the dollar spiked to more

than three-month highs against the yen following a snap

election in Japan yesterday.

Wall Street stocks surged to fresh records last Friday,

after US lawmakers took a key step toward enacting the tax

reform plan sought by President Donald Trump.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)