Mumbai: The SENSEX opened weak and witnessed extremely narrow movements at early stages on the Bombay Stock Exchange (BSE) on January 20 due to some selling pressure in IT sector.

The BSE benchmark 30-share index opened moderately lower at 3,364.53 as against January 17 close of 3,370.39 and later moved in a range between 3,368.06 and 3,360.66 before being quoted at 3,363.38 at 10.30 am (IST).

Key IT stocks like Infosys Technologies, Satyam Computer and HCL Technologies were quoted marginally down due to selling induced by a sharp fall on Wall Street last weekend.

Both the Dow Jones Industrial Average and the tech-laden NASDAQ composite index ended lower by 111 points and 48 points respectively.

Pharma stocks also attracted profit booking at prevailing high price levels. Dr Reddy's Lab, Cipla and Ranbaxy Lab showed marked losses.

However, steel shares were in limelight. TISCO and Jindal Steels were sharply up on investment buying prompted by hopes of encouraging performance for the third quarter.

PTI