Mumbai: After a long five-session rally, the SENSEX opened weak and later dropped below 3,200-level in line with substantial losses in heavy weighted counters at early stages of the session on the Bombay Stock Exchange (BSE) on April 8 on profit booking by operators.

The BSE sensitive index opened down at 3,205.92 as against April 7 close of 3,215.24 and later dipped to a low of 3,185.50 before being quoted at 3,193.47 at 10.30 am (IST).

Stockbrokers said technology stocks like Infosys Tech and Satyam Computers met with strong resistance as operators were seen booking profits in these counters at the prevailing higher levels.

Attributing the consistent upsurge in stocks in the last five sessions, brokers said Indian bourses have withstood the adverse global situation arising out of the breakout of war in the Gulf.

Foreign funds, which made net investments of Rs 216 crore during last week, were believed to have turned to Indian markets as SARS fears dogged Asian markets, they added.

Operators pressed sales in key counters like HCL Tech, Infosys Technologies, Satyam Computers, HPCL, HLL, RIL, MTNL, Telco and a few others in a bid to book profits at higher levels.

PTI