Mumbai: The BSE Sensex on Friday failed to maintain initial gains and declined by seven points in late morning deals due to mild profit booking in consumer durables, healthcare, capital goods and banking sectors, following overnight losses in the US market.
US stocks fell yesterday after a Federal Reserve official tipped a pullback in the central bank's easing programmes which could come as soon as this summer.
The BSE-30 share index, Sensex, resumed higher at 20,267.60 and firmed up further to 20,308.97 points on persistent buying in select counters.
However, it declined afterwards to 20,203.76 before quoting 20,240.75 points at 1030 hours.
It showed a net loss of 6.58 points of 0.03 percent from its last close.
The NSE 50-share barometer Nifty also moved down by 3.80 points or 0.05 percent to 6,166.10 at 1030 hours.
Major losers were Dr Reddy's Lab (1.83 percent), Bharti Airtel (1.24 percent), Gail India (1.23 percent), HDFC Bank (1.11 percent) and HDFC (0.88 percent).
Meanwhile, foreign institutional investors (FIIs) bought shares worth a net Rs 1,070.33 crore yesterday, as per provisional data from the stock exchanges.
Asian stocks edged higher in their early trade.
Key benchmark indices in China, Indonesia, Japan and Taiwan were up 0.09 to 0.53 percent.
Singapore's Straits Times fell 0.09 percent.
Stock markets in Hong Kong and South Korean were closed for holidays.
First Published: Friday, May 17, 2013, 09:55