Mumbai: The SENSEX opened marginally higher but later met with resistance as majority of blue-chip stocks turned weak during morning trading at the Bombay Stock Exchange (BSE) on June 16 due to selling pressure.

The BSE sensitive index opened slightly up at 3358.38 as against last Friday's close of 3354.14 but later reacted moderately and dipped to a low at 3325.54 before being quoted at 3342.32 at 10.30 am.

Attributing selling pressure that was more pronounced in technology and banking sector, to a sharp setback on Wall Street last weekend as well as reports that the government might settle the contentious issue of return of capital, by treating listed and unlisted public sector banks differently, brokers said foreign funds also seemed to be slowing down their activity.

However, Oil PSU (Public Sector Undertaking) stocks like IBP, IOC, ONGC, BPCL and HPCL rallied smartly on hectic buying support.

Heavyweights like HLL, Infosys Tech Hero Honda, Hindalco BHEL, Grasim and MTNL were quoted lower.

Among the top losers, Silver line were quoted down by 7.69 per cent, Himachal Futuristics 3.51 per cent, Penta Media by 3.24 per Cent, Hero Honda by 3.12 per cent, Vijaya Bank by 3.03 per cent, IDBI Bank by 3.02 per cent, Mascot by 2.51 per cent, HCL Info by 2.21 per cent, Syndicate Bank by 2.17 per cent and Indian Overseas Bank by 2.16 per cent.

PTI