Sensex down by 56 points

The BSE benchmark Sensex was down by nearly 55 points at 1015 hours on Monday, with initial gains wiped out amid fresh selling by operators and investors, mainly in auto, banking and IT counters.

In early trade, positive Asian cues and higher US index futures pushed up the index to 18,643.58 points after opening higher at 18,628.63.

However, the 30-share index failed to maintain the initial momentum and dropped to 18,463.56 before quoting at 18,464.26 at 1015 hours, showing a net loss of 54.55 points, or 0.29 per cent, from last weekend's close.

The NSE 50-share Nifty also moved down by 26 points, or 0.47 per cent, to 5,525.45 at 1015 hours.

Realty stocks gained for the second straight day on Monday.