Sensex washes out initial gains; down 82 pts in morning trade

The benchmark BSE Sensex washed out initial gains and was quoted lower by 82 points in late morning trade due to fresh selling in auto, banking, metal, power and realty sectors amidst mixed Asian cues.
Besides, foreign portfolio investors sold shares worth a net Rs 27.43 crore yesterday, as per provisional data.
The Sensex resumed higher at 28,892.21 and firmed up further to a high of 28,922.85 on initial buying.
However, it declined afterwards to 28,721.24 before quoting at 28,768.89 at 1100 hours, showing a loss of 82.08 points, or 0.28 per cent, from its last close.
The CNX 50-share Nifty also moved down by 24.20 points, or 0.28 per cent, to 8,687.50 at 1100 hours.

Major losers were Tata Motors (5.76 per cent), BHEL (3.06 per cent), Gail India (3.03 per cent), M&M (2.44 per cent), Tata Power (2.04 per cent), Hero Motocorp (1.87 per cent), Axis Bank (1.84 per cent) and HDFC Bank (1.61 per cent).
Asian stock markets were trading mixed in early trade ahead of the closely-watched US jobs report while apprehension about Greece's bailout programme also weighed on sentiment.
Key indices in Japan, Singapore, and Indonesia were up by 0.58-0.8 per cent while indices in China, Hong Kong, Taiwan, and South Korea were off by 0.13-1.14 per cent.