The BSE sensitive index opened steady at 3131.54 and gradually went up to 3163.28 during the mid-session. Sensex turned weak thereafter dropped below 3100-mark to close at 3096.33 with a net loss of 37.09 points as against the previous close of 3133.42. The BSE-100 index lost 12.26 points to 1374.56 compared to the previous level of 1386.72.

Brokers said that the sentiment was better in the earlier part of the session on buying support by the institutions. But pivotals turned weak in the afternoon on rumours that the Akali Dal (Badal), an ally of the ruling BJP-led coalition government, would withdraw its support to the government at the centre. The crash of Asian stocks especially Hong Kongstocks during the afternoon session also overshadowed on the Indian bourses. The total turnover amounted Rs 962.68 crore.

On the National Stock Exchange (NSE), share prices opened higher but reacted towards the fag-end on emergence of heavy offerings and closed with moderate losses. The S&P CNX Nifty index, after a higher start at 907.90, declined to close at 902.75, showing a fall of 4.70 from the last close of 907.45. The volume of business amounted to Rs 1,310.90 crore.