Mumbai: The SENSEX opened marginally lower and later dipped further in line with a negative reaction in Information technology (IT) stocks and the top heavyweight Reliance Industries Ltd (RIL) at early stages of the session on the Bombay Stock Exchange (BSE) on April 22 due to fresh selling pressure.

The BSE sensitive index opened weak at 2,994.50 as against April 21 close of 2,996.97 and gradually moved downwards to be quoted at 2,973.89 at 10.30 am (IST).

Investors, who had cornered shares of IT bellwether Infosys Technologies at Rs 2,500- level, were believed to be booking profits at the prevailing price levels, brokers said.

They too have adopted cautious stand ahead of announcement of fourth quarter working results by blue-chip companies like RIL and Satyam Computers during the current week, brokers added.

Key stocks like BSES, RIL, Infosys Technologies, Satyam Computers, HCL Tech, HLL and a few others were quoted lower due to selling pressure.

However, Grasim Ind, Dr Reddy's Lab, SBI and select PSU stocks rallied further on some buying support.

PTI