Sensex trims its initial losses, still dn 41 pts

The S&P BSE benchmark sensex trimmed its initial losses but was quoted still lower by 41 points in the late morning trade due to selling in Banking and FMCG sectors despite buying in Capital Goods, Consumer Durable and IT sectors.
The sensex opened lower at 29,143.63 and dropped further to 29,024.92 on weak Asian cues coupled with foreign capital outflows before quoting at 29,142.45 at 1100hrs, still showing a loss of 40.50 points or 0.14 per cent from its last weekend's level.
The CNX 50-share Nifty also moved down by 6.95 points or 0.08 per cent to 8,801.95 at 1100hrs.

Major losers were Dr Reddy's Lab (2.42 pct), Coal India (2.24 pct), HUL (1.97 pct), Bajaj Auto (1.92 pct), Icici Bank (1.70 pct), Bharti Airtel (1.68 pct), HDFC Bank (1.25 pct) and ITC (1.25 pct).
However, Sun Pharma at 2.45 pct, Hindalco 2.11 pct, Maruti 2.11 pct, Wipro 1.73 pct, Larsen 1.53 pct, M&M 1.50 pct and Cipla 1.26 pct showed a rise.
Foreign portfolio investors sold shares worth a net Rs 771.55 crore on last Friday as per provisional data.
Asian equity markets were trading lower as data showing China's manufacturing sector remaining in a poor state dampened investors' spirit. Key indices in China, Hong Kong, Japan, South Korea, and Indonesia were off 0.11 pct to 1.16 pct while indices in Taiwan and Singapore were up 0.09 pct to 0.54 pct.