Sensex surrenders early gains, up 55 points

The BSE benchmark Sensex surrendered its early gains to trade below the psychological 27,000-level but was still quoting higher by 55.38 points at 26,898.52 in late morning deals on continued bouts of buying in banks, auto, energy, IT and metal sectors amid higher Asian cues.
Good FII inflows in Indian equities and bullish Asian cues ahead of US employment data due later today supported the sentiment.
However, bouts of profit-booking witnessed in telecom, healthcare, capital goods and consumer durable sectors erase some of the early gains.
The Sensex resumed higher at 26,919.23 and hovered in a range of 27,008.14 and 26,894.89, it was quoting at 26,898.52 at 1100 hours, showing a gain of 55.38 points or 0.21 per cent from its last close.

The NSE 50-share Nifty was also trading up by 14.75 points or 0.18 per cent to quote at 8,233.70.
Major gainers were, Axis Bank 2.94 pct, HUL 1.90 pct, Bajaj Auto 1.69 pct, Tata Motors 1.51 pct, HeroMotoco 1.47 pct and ICICI Bank 1.47 pct.

However, notable losers were Lupin 1.58 pct, Bharti Airtlel 1.56 pct, TCS 0.87 pct and AdaniPorts 0.85 pct.
Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 521.85 crore yesterday, as per provisional data released by the stock exchanges.
Overseas, Asian markets were mostly trading higher, as it awaited key US jobs data, which will offer a key indicator of whether the Federal Reserve will pull the trigger on interest rate hike in June.

US stocks registered small gains yesterday, led by healthcare stocks ahead of the highly anticipated employment report due later in the global day.