Mumbai: The SENSEX opened weak and moved further downwards in keeping with a strong negative reaction in stocks at early stages on Bombay Stock Exchange (BSE) on September 30 as a result of a selling spree by domestic investors.

The BSE Sensitive Index opened substantially lower at 3,029.56 as against a close of 3,037.26 on September 27 and later dropped to a low of 3,009.09 before being quoted at 3,309.31 at 10:30 hours (IST).

Heavyweights like Hind Lever Ltd (HLL), Infosys Tech, HPCL, Dr Reddy's Lab, BHEL, HCL Techno, Satyam Computers and a few others were quoted sharply down due to selling by speculators as well as foreign institutional investors (FIIs).

Attributing the downward reaction after last weekend's sharp rally, to a stocks crash on Wall Street on September 27, market sources said that speculators seeded to unwilling to create any positions in the absence of any fresh net investments by FIIs which have slowed activity in the light of depressed sentiment on New York markets.

PTI