NEW YORK, DEC. 29 -- The stock market staged a broad but moderate decline in lackluster holiday-week trading today, resisting any impulse to rally after Monday's sharp plunge.

Analysts generally agreed that the performance was expected, given the market's strong recent advance and the fact that many traders were reluctant to stake out new positions after having closed their books for the year.

The Dow Jones average of 30 industrials lost 16.08 points to close at 1926.89. The closely watched average had been down about 10 points for most of the day.

Losers outpaced gainers on the New York Stock Exchange-listed issues by about 2 to 1.

Volume on the Big Board came to 111.58 million shares, down from 137.50 million Monday.

On Monday, the closely watched average plunged by 56.70 points. That slide was blamed on the continued slide of the dollar, higher interest rates on the bond market and light holiday trading, which accentuated the decline.

The dollar rebounded slightly today, giving a lift to bond prices and sending interest rates a bit lower. Some analysts expected that to push stocks higher, but Thomas Czech, research director at the Blunt Ellis & Loewi securities firm in Milwaukee, said he believed the market's reaction was "kind of normal" after Monday's plunge.

Market-watchers said there was very little buying interest to keep the market afloat.

"There was no participation by institutions," said Jack Baker, head of block trading for the Shearson Lehman Bros. Inc. securities firm. "Anybody who had anything major to do has closed their books. And there was no urgency to get out, like yesterday morning."

Money center bank stocks were among the day's best performers, rising on a Treasury Department announcement of a plan to help Mexico reduce its debt burden.

Among the Big Board's most-active issues, Citicorp was up 1 1/4 at 18 3/4, while Chase Manhattan was up 1 1/8 at 21 3/4. J.P. Morgan was up 2 1/8 at 35 1/8

Computervision, subject of a takeover bid by Prime Computer, was up 3/4 at 14. Prime Computer was up 1/2 at 14 7/8. IBM closed at 116, up 1/4.

Phillips Petroleum, the subject of takeover rumors lately, was up 1/2 at 13 1/4. Amoco was up 7/8 at 68 5/8. Pennzoil was down 2 7/8 at 70 3/4, while Texaco was down 1/2 at 37 1/2. A report said Pennzoil expects to net $2.6 billion from its $3 billion settlement from Texaco on their long legal dispute.

Eli Lilly rose 2 1/8 to 78 3/8. The company said it got permission to market Prozac, an antidepressant drug.

Nationwide turnover in NYSE-listed issues, including trades in those stocks on regional exchanges and in the over-the-counter market, totaled 138.79 million shares.

The NYSE index was down 0.66 at 136.84.

Standard & Poor's index of 400 industrials fell 1.22 to 283.15, and S&P's 500-stock composite index was down 0.98 to 244.59.

At the American Stock Exchange, the market value index fell 1.36 to 255.28. The Nasdaq composite index for the over-the-counter market closed at 325.53, down 0.07.