Sensex pares initial gains, still up by 36 pts

BSE benchmark Sensex erased its initial gains but was still trading up by 36 points in late morning deals tracking firm Asian bourses.
Consumer durables, financials, banking and capital goods sectors led gains, while oil&gas, auto, energy, metal, healthcare, FMCG and telecom were dragging the Sensex.
The 30-share index opened higher at 28,367.17 and moved in a range of 28,456.18 and 28.319.47. At 1100 hrs, the Sensex was quoted up by 35.93 points, or 0.13 per cent, at 28,365.63.
The NSE 50-share Nifty was also up 18.40 points, or 0.21 per cent, at 8,796.80.
Among major gainers were: Adani Ports 2.43 per cent, SBIN 1.58 per cent, NTPC 1.01 per cent and Axis Bank 0.87 per cent.

However, Tata Motors fell by 1.04 per cent, followed by ITC 0.79 per cent, Lupin 0.66 per cent and Cipla 0.51 per cent.
Meanwhile, Foreign portfolio investors (FPIs) bought shares worth a net Rs 356.63 crore yesterday, as per provisional data released by the stock exchanges.
Overseas, Asian shares rallied to an 18-month peak on today as investors cheered upbeat Chinese trade data and strong gains on Wall Street after US President Donald Trump promised to unveil a major tax announcement to lower the burden on businesses.