The BSE sensitive index dropped from the opening level of 2900.36 to 2874.17, before closing at 2881.69, with a net loss of 21.87 points from the previous close of 2903.56. The BSE-100 index lost by 9.62 points to 1284.52 as against the previous close of 1294.14.

Marketmen said the further downtrend was followed by sustained selling pressure from operators and foreign funds. Even some purchases in the latter part of the session by domestic institutions failed to attract any interest from the operators. FIIs were seen pressing sales in software scrips like Satyam Computer, Zee Telefilms and Pentafour Software. Operators were closely monitoring developments on the political front as the four states went to polls for its assembly elections.

Thevolume of business was very low at Rs 705.05 crore compared to yesterday's turnover of Rs 1048.94 crore. Satyam Computer clocked the highest turnover of Rs 114.33 crore followed by ITC of Rs 66.47 crore, Reliance of Rs 53.81 crore, SBI of Rs 47.29 crore and Telco of Rs 38.45 crore.

Satyam Computer eased by Rs 4.50 to Rs 564, ITC by Rs 4.25 to Rs 696.25, Reliance by Rs 1.80 to Rs 115.70 and Tisco by Rs 2.30 to Rs 90.20 on selling pressure. SBI, Bajaj Auto, Sterlite, ACC, BHEL, Castrol, Hindalco and Pfizer also remained subdued.

The capital market of the National Stock Exchange (NSE) remained closed today for trading due to the general elections to the legislative assemblies of Madhya Pradesh, Mizoram, Rajasthan and Delhi. In lieu of today's holiday, the capital market segment of the NSE will remain open for trading on Saturday, November 28.