Erasing initial gains, the Sensex at the Bombay Stock Exchange was trading 50 points in the negative territory at 17,733 in afternoon deals, when reports last came in. After losing 67 points in the previous session, the 30-share barometer recovered by 28 points in early trade today on emergence of buying by funds and retailers, amid a mixed trend on Asian bourses.The Nifty at the National Stock Exchange was also trading 16 points in the red at 5,371.The rupee recovered some initial losses in late morning trade today but was still down 9 paise at 55 rupees 59 paise against the dollar. The rupee had depreciated by 13 paise to 55 rupees 63 paise against the dollar in early trade today. In the previous session on Friday, the local currency had lost 24 paise to 55 rupees 50 paise against the American currency.Meanwhile, stock markets in Asia were trading mixed in opening trade. Japan's Nikkei index was up by 0.34 per cent, while Hong Kong's Hang Seng index traded marginally lower by 0.04 per cent.The US Dow Jones industrial average index ended 0.77 per cent higher in Friday's trade.