Mumbai: The SENSEX opened weak and dipped further at early stages as downslide in stocks continued for the third session on the Bombay Stock Exchange (BSE) on January 31 on unabated selling pressure.

The BSE sensitive index opened lower at 3,216.16 as against January 30 close of 3,219.88 and later dipped to a low of 3,200.88 before being quoted at 3,212.93 at 10.30 am (IST).

Brokers said investors pressed sales in heavy weighted counter RIL in anticipation of lower-than-expected third quarter results ahead of the company's board meeting during the day.

Technology stocks like Infosys Tech, Satyam Computers and HCL Tech, which have high weightage in the index, also fell back due to selling by institutional investors.

Rising international oil prices in reaction to the threat of war in Iraq as well as a sharp fall in New York stocks also had sentimental impact on the market.

The Dow Jones industrial average and the NASDAQ composite index dipped by 165.58 points and 35.71 points on January 30 respectively.

IT companies like Digital Global and CMC Ltd stole the limelight scoring handsome gains on announcements of third quarter results, which were better-than-market projections.

PTI