Sensex trims initial losses, still down by 284 pts

The benchmark BSE Sensex trimmed its initial losses, but was still trading down 284 points in late morning trade on persistent sell-off amid uncertainty over demonetisation of higher denomination notes and future policies of the US president-elect Donald Trump.
Consumer durables, Realty, Auto, Industrials, Finance, Metal and Oil&Gas counters witnessed heavy selling pressure.
The 30-share Sensex, resumed lower at 26,809.61 and hovered in a range of 26,809.61 and 26,321.01 before quoting 25,534.99 at 1100 hours, showing a fall of 283.83 points or 1.06 per cent from its last close.
The NSE 50-share Nifty were also trading down by 103.35 points or 1.25 per cent to 8,192.95 at 1100 hours.

Major losers were Asianpaint 7.53 per cent, Tata Motors 7.33 per cent, Tata Steel 5.29 per cent, HDFC 4.92 per cent, Maruti 4.74 per cent, Adaniports 3.78 per cent, Bajaj Auto 3.10 per cent and HeroMotoco 2.46 per cent.
However, SBIN rose by 2.57 per cent followed by DrReddy 1.86 per cent, Wipro 1.65 per cent and ITC 1.01 percent.

Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net Rs 1493.27 crs last Friday, as per provisional data released by the stock exchanges.
In overseas markets, Asian stocks were trading mixed. The US stocks closed little changed yesterday, after rising dramatically the week before and a decline in the technology sector offset a steep rise in financial stocks as investors bet on higher interest rates.

The Dow Jones Industrial Average settled at another record closing high.