Mumbai: The Bombay Stock Exchange benchmark Sensex saw initial gains erased and was down 77 points in early trade on Friday due to profit-booking in IT, metal, oil and gas and power stocks in view of an overnight fall in the US market.

The 30-share BSE index resumed higher at 17,189.75 and hovered in a range between 17,211.80 and 17,086.92 before quoting at 17,088.09 at 1015 hours, a net loss of 77.45 points, or 0.45 per cent, vis-a-vis its previous close.

The NSE's 50-share Nifty Index also moved down by 20.60 points, or 0.40 per cent, to 5,132.65 at 1015 hours.

The major losers in early trade were Hindalco Industries (down 2.52 per cent), Sterlite Industries (2.38 per cent), Infosys (2.17 per cent), Reliance Industries (1.64 per cent), Tata Steel (1.64 per cent) and Wipro (1.49 per cent).

However, Bharti airtel, India's largest mobile services provider in terms of subscription, was up 1.42 per cent after the company secured licences to operate 2G and 3G services in Rwanda.

Other gainers in early trade were Hindustan Unilever (up 3.68 per cent), Hero MotoCorp (2.14 per cent), Coal India (1.11 per cent) and Bajaj Auto (0.82 per cent).

US stocks closed sharply lower on Thursday after Federal Reserve Chairman Ben Bernanke gave no indications of new stimulus measures to boost the country's flagging economy in a keenly awaited speech.