Mumbai: The SENSEX opened marginally lower and moved downwards in narrow movements reflecting lack lustre activity at early stages on the Bombay Stock Exchange (BSE) on November 11 on fresh selling pressure from speculators and retail investors amid slow-down in FII activity.

The BSE benchmark 30-share Index opened lower at 2,954.99 as against November 8 close of 2,956.84 and later moved downwards to a low of 2,948.28 before being quoted at 2,948.95.

Brokers said foreign funds have slowed down activity in the light of weak trend in the global markets while domestic mutual funds seemed to be more cautious than making any major investment decision.

Majority of index-based counters met with resistance in the form of profit booking by investors, which seemed to be unwilling to make any large commitments in the light of delay in the government's divestment programme.

PTI