Mumbai: The BSE Sensex washed out initial gains by slipping 13 points on fresh selling mainly in realty, banking and power sectors triggered by weak Asian stocks. Sensex resumed lower at 16,681.89, but recovered to 16,802.90 on select buying and good capital inflows from foreign funds. However, it declined afterwards to 16,692.44 at 1015hrs on fresh selling on the back of lower Asian cues, showing a net loss of 13.39 points of 0.08 per cent from its last close. The NSE 50-share Nifty also moved down by 9.35 points or 0.18 per cent to 5,054.90 at 1015hrs. Despite the markets falling yesterday, FIIs had bought shares worth Rs 412.41 crore as per provisional figures from the stock exchanges. Major losers today were Sterlite (2.55%), Bhel (1.80%), Tata Power (1.74%), SBI (1.46%) and NTPC (1.30%). Most Asian markets declined in early trade as Spain's financial problems cast fresh shadows over Europe's economic outlook. Key indices in Japan, China, Taiwan, South Korea and Hong Kong were down by up to 0.47 per cent. Markets in Indonesia and Singapore were up. The BSE benchmark Sensex recovered by over 88 points in early trade today after yesterday's steep fall on emergence of buying by funds and retail investors even as rating agency Fitch lowered India's credit rating outlook to negative. Covering-up of short positions by speculators, too, helped stocks to recover part of yesterday's losses. The 30-share barometer, which had lost 244 points in yesterday's trade, recovered by 88.13 points, or 0.53 per cent, to 16,793.96 points with capital goods, auto and metal sector stocks leading the recovery. The wide-based National Stock Exchange index Nifty also moved up by 16.35 points, or 0.33 per cent, to 5,080.60. Brokers said emergence of selective buying by funds and retail investors in heavy-weight stocks at existing levels helped the trading sentiment to improve. They said, however, lowering of country's credit rating outlook to negative by global agency Fitch yesterday and disappointing RBI's mid-term monetary policy, keeping all key rates unchanged, restricted the gains. In the Asian region, the Japan's Nikkei fell by 0.32 per cent, while Hong Kong's Hang Seng shed 0.27 per cent in early trade. The US Dow Jones Industrial Average ended 0.20 per cent lower in yesterday's trade.