Mumbai: The SENSEX opened marginally lower and later dropped substantially during early stages of the session in line with sustained slid in stocks on the Bombay Stock Exchange (BSE) on April 10 on all-round selling triggered by announcement of disappointing results by IT majors Infosys Tech and Mastek.

The BSE sensitive index opened at 3,137.24 as against April 9 close of 3,141.25 and later dipped to a low of 3,089.22 before being quoted at 3,094.57 at 10.30 am (IST).

Brokers said the market that had suffered a sharp setback in last couple of sessions reacted negatively to the announcement by Infosys Tech and Mastek of working results, which were far below the market projections.

Mastek posted 45 per cent increase in the net profit at 16 crore for the third quarter index March 31, 2003. Infosys tech also announced its fourth quarter result on April 10 morning, which disappointed the broking fraternity.

Meanwhile, the Dow Jones industrial averages and NASDAQ composite index on April 9 dropped by 65.47 points and 19.29 points respectively.

Heavy weighted shares like Infosys Techno, WIPRO, RIL, MASTEK and ZEE Tele were quoted sharply lower.

PTI