Mumbai: The SENSEX opened marginally lower and moved further downwards in line with continued weak trend in frontline IT stocks during morning trading on the Bombay Stock Exchange (BSE) on May 22 on fresh selling pressure.

Infosys Technologies, Satyam Computer and Wipro remained under pressure as a result of appreciating Rupee, which in turn would affect the bottom line of these companies as large part of their earnings are from exports.

However, some of the bank and refinery counters continued their Northward journey on good buying support from local funds and operators.

ACC, Grasim, L&T, Telco, ITC and Tisco showed moderate gains on buying support.

The BSE-30 share sensitive index opened slightly lower at 3,055.20 as against May 21 close of 3,057.09 and later fluctuated irregularly in a range between 3,067.12 and 3,046.18 before being quoted at 3,052.99 at 10.30 am (IST).

PTI