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.