Sensex (BSE sensitive index) declined from the day's high of 3385.20, dropped below the 3300 mark and touched at 3292.63 before closing at 3310.46 showing a net loss of 42.76 points from the previous close of 3353.22. The BSE-100 index eased by 21.05 points to 1475.13 from the previous close of 1496.18.

Infosys Technologies, Hind Lever Chemical and NIIT hit the upper price band. Finolex Cable, ITC Hotel, ICI India, Esab India, Satyam Computer, EIH Ltd and Titan spurted sharply gaining over seven per cent. ICICI, however, hit the downward circuit breaker. ``The market was going through a corrective phase and expected to turn around at 3280-support level, from where it will gradually pick up for another sharp rally,'' said a broker.

Satyam Computer was the most active scrip with a turnover of Rs 364.83 followed by Pentafour Software Rs 227.60 crore, Zee Telefilm Rs 206.17 crore, ITC Rs 180.93 crore and RIL Rs 106.18 crore. The market leader Satyam Computer shot up by Rs 60.00 to Rs 886.50. Pentafour Software hardened by Rs 33.00 to Rs 765.25. But Zee Telefilms dropped by Rs 26.75 to Rs 658.25, ITC by Rs 8.25 to Rs 805.50 and RIL by Rs 4.70 to Rs 138.50.

On the National Stock Exchange (NSE), prices of select scrips declined moderately on the first day of the current settlement due to fresh selling by foreign institutional investors (FIIs) and domestic funds. The S&P CNX Nifty dropped by 3.25 points to close at 961.20 from the last close of 964.45. The total turnover on the exchange was Rs 2698.24 crore.