Sensex fails to maintain initial gains, down 13 pts

Erasing early gains, the BSE benchmark Sensex today fell by 13 points to 19,426.48 in the late morning trade on mild selling pressure mainly in metal, auto, refinery and realty sectors despite buying in consumer durables, IT and banking sectors.
The 30-share index resumed higher at 19,482.66 and firmed up further to 19,505.93 on persistent buying on the back of higher global cues.
However, it declined afterwards to 19,423.34 before quoting at 19,426.48 at 1015hrs, showing a loss of 13 points or 0.07 per cent from its last close.
However, the NSE 50-share Nifty inched up by 2.25 points, or 0.04 per cent, to 5,861.25 at 1015 hrs.

Major losers were Tata Steel (1.76 per cent), Jindal Steel (1.15 per cent), Coal India (1.03 per cent) and Tata Motors (0.93 per cent).
However, Tata Power firmed up by 1.11 per cent, Cipla 1.09 per cent, SBI 0.85 per cent, NTPC 0.70 per cent and Infosys 0.66 per cent.
Most Asian stocks rose in their early trade after an improved economic outlook clinched a fourth day of improvement for US equities yesterday.
Key benchmark indices in China, Hong Kong, Singapore, Japan, and Taiwan rose by 0.09 per cent to 1.01 per cente and South Korea's Kospi declined 0.16 per cent.