Mumbai: Share prices, particularly from IT and banking segment, suffered a fresh setback on the Bombay Stock Exchange (BSE) at early stages, following selling pressure from operators as well as local funds.

The BSE-30 share sensitive index, however, resumed on a slightly better note at 3,281.37 from the February 7 close of 3,279.77. But immediately it met with a strong resistance and moved downwards to a low of 3,267.45 before being quoted at 3,273.22 at 10:30 hours (IST).

Tech counters remained bearish on reports that after introduction of a Bill aimed at blocking offshore government BPO (business process outsourcing) work to India by New Jersey Senate, four other states are also said to be mulling introduction of a similar Legislation, which is going to be bad news for India.

Bucking the general negative trend, power shares like BHEL, ABB, BSES and Tata Power were in keen demand on hopes of passage of Electricity Bill in the coming Budget session.

Foreign institutional investors (FIIs), which have made net purchases of Rs 290 crore in the first four sessions of last week, were believed to have drastically slowed down their activity.

PTI