Sensex loses ground, FIIs stick to selling

The benchmark Sensex came off its early highs today, but still traded up amid higher Asian cues.
Investors tracked higher Asian markets, which took comfort from the overnight record close in US stocks driven by rebound in technology shares. But the gains were capped on continued FII selling.
The Sensex resumed higher at 31,392.53 and moved between 31,392.53 and 31,318.87 before quoting at 31,335.45 at 1201 hours, up 23.88 points, or 0.08 per cent.
The NSE 50-share Nifty was higher by 10.20 points, or 0.11 per cent, to 9,667.75 at 1201 hours.
The major gainers were Tata Motors 2.64 per cent and Infosys 1.39 per cent.

Overseas, Asian markets were mixed amid speculation on China's inclusion in the MSCI EM index.
US stocks rose overnight, with both the Dow and the S&P 500 ending at new records, as technology shares rebounded from a recent bout of sharp weakness to lead the market higher.
Meanwhile, foreign funds sold shares net Rs 250.39 crore last Friday, as per the provisional figures.