Sensex (BSE sensitive index) moved in a narrow range between 2908.16 and 2938.33 before closing at 2919.57 with a net loss of 21.82 points against last Friday's close of 2941.39. The BSE-100 index lost 10.60 points to 1301.51 from the previous level of 1312.11.

Brokers said foreign funds were reportedly net sellers in some scrips like Nestle, Bajaj Auto, ITC, Larsen and some software shares. Domestic institutions, however, bought shares of ITC, ICICI, Hindustan Lever, Larsen, SBI, Bajaj Auto and others. The forthcoming assembly elections in four states -- results of which are feared to affect the political situation in the country -- was the main factor for the low volume as most of the operators were watching the developments and keeping away from making freshcommitments.

The total turnover dropped to Rs 726.07 crore. Satyam Computers was the leader among the five most prominent traded scrips with a turnover of Rs 164.13 crore. ITC followed with Rs 110.45 crore, Reliance Rs 61.32 crore, SBI Rs 52.61 crore and Pentafour Software Rs 47.65 crore. Satyam Computers dropped by Rs 17.75 to Rs 568.25, ITC by Rs 5.25 to Rs 701.75, Reliance by Rs 1.90 to Rs 117.50, SBI by Rs 3.90 to Rs 156.70 and Pentafour by Rs 25.75 to Rs 546.25 on selling pressure.