Sensex pares early gains, slips 52 pts

Benchmark Sensex slipped 52 points in late morning trade on bouts of profit-booking in key telecom, FMCG, auto and realty stocks ahead of derivatives expiry on Thursday.
Trading sentiment was also affected by lack of definite global cues, with Asian markets turning lacklustre after initial gains and US markets closed for 'Presidents Day' holiday.
Oil and gas, metal, consumer durables and IT stocks witnessed buying interest.
The 30-share barometer opened higher at 28,716.70 and hovered between 28,726.10 and 28,603.41. It was trading at 28,609.81 at 1100 hrs, showing a loss 51.77 points, or 0.18 per cent.
The NSE 50-share Nifty was also trading marginally lower by 6.20 points, or 0.07 per cent, at 8,873.00.

Major losers were Bharti Airtel (2.46 per cent), ITC (1.41 per cent), Coal India (0.92 per cent), M&M (0.70 per cent) and TCS (0.51 per cent).

Notable gainers were HUL (1.43 per cent), Axis Bank (1.23 per cent), Asian Paints (0.88 per cent) and GAIL (0.67 per cent).
Foreign portfolio investors (FPIs) net sold shares worth a whopping Rs 433.38 crore yesterday, provisional data showed.
Overseas, most Asian markets were steady, with US markets closed for 'Presidents Day' holiday yesterday.