Sensex (BSE sensitive index) rallied to a high of 4635.85 at the early stages following handsome gains in pivotals counters. However, it failed to maintain the high levels due to late profit-taking and closed at 4541.48 with a net loss of 37.39 points as compared yesterday's close of 4578.87. The BSE-100 index dropped by 15.64 points to 2136.90 from previous close of 2152.54.

Brokers said the sentiment was better in the earlier part of the session following the start of new account on the National Stock Exchange (NSE) and also on reports of a sharp fall in the net outstandings that stood at Rs 2600 crore yesterday as against Rs 3500 crore a month ago. FIIs were reportedly net sellers in infotech stocks like Aptech, Infosys Tech, Pentafour Software, Silverline, Wiproand Zee Telefilms. Of the 145 specified shares, 114 registered sharp to moderate losses while only 29 including five index-based ones showed handsome gains and two held steady.Pentafour Software remained the most active scrip with a turnover of Rs 297.37 crore of the total volume of business of Rs 2263.39 crore.

The market leader Pentafour Software lost Rs 55.25 to Rs 635.75, Satyam Computer Rs 7.50 at Rs 1608, Zee Tele Rs 134.95 at Rs 5080.05, Ranbaxy Rs 27.05 at Rs 942.95, Reliance Rs 1.85 at Rs 227.40, BHEL Rs 9 at Rs 261 and Infosys Tech Rs 40 at Rs 8130.