Sensex takes a selling hit, sheds 53 points

The BSE Sensex reversed its direction and slipped into the red, down by 53 points, after a bout of fresh selling in technology, energy, and oil and gas shares amid mixed Asian cues.
The Sensex got off to a higher start, before quoting at 25,762.93 at 1130 hours, a fall of 53.43 points, or 0.21 per cent from its last close.
The NSE 50-share Nifty was lower by 24.55 points, or 0.31 per cent, at 7,890.15 at 1130 hours.
M&M, TCS, Reliance, Sun Pharma and Maruti faltered.
However, Tata Steel rose 4.79 pct followed by Axis Bank, GAIL and Coal India.

Foreign portfolio investors (FPIs) stayed with the India story and net bought shares to the tune of Rs 977.9 crore on Monday, provisional data released by the stock exchanges showed.
In overseas markets, Asian stocks were trading mixed. US stocks closed on a mixed note yesterday amid a rebound in oil prices.