Step by step with phototransduction
Phototransduction is the process through which photons are converted into electrical signals.
The visual pigment Rhodopsin is bound to the plasma membrane of the rod cell. Figure4 illustrates Rhodopsin forming transmembrane complex within the membrane.

Figure4. Opsin (the G-protein coupled receptor) is bound to the light-absorbing chromophore, 11-cis-retinal (the aldehyde of vitamin A) forming the visual pigment Rhodopsin which is embedded within the plasma membrane.
Also within the disk membrane is a cGMP (nucleotide cyclic guanosine 3-5 monophosphate). The level of this cGMP is controlled by cGMP phosphodiesterase which is basically an enzyme that breaks down the cGMP.
When light enters the eye, figure5, a photon is absorbed by Rhodopsin and the 11-cis-retinal undergoes isomerizaion to all-trans form, this activated Rhodopsin is called metarhodopsin II.

Figure5. Light is absorbed by the Rhodopsin and the retinal component changes its conformation and dissociates from the opsin.
Metarhodopsin II stimulates the activity of the enzyme which in turn will decrease the level of cGMP in the cytoplasm. Decreasing the level of cGMP will cause the closing of sodium channels which will lead to decrease the sodium level causing hyper polarization which closes the Ca+2 channels. With less Ca2+ entering the cell, the release of transmitter decreases so the graded potential passing on to the optic nerve is smaller.
In the dark, the activity of this enzyme is weak. High level of GMP causes the opening of the sodium channels in the plasma membrane therefore sodium ions are moving into the cell and the photoreceptor is depolarized. In response to depolarization Calcium channels open for calcium ions to enter the cell causing the release of transmitter to increase which causes graded potentials passing on the optic nerve to be greater.
Figure6a&b illustrates how sodium channels opens in the dark and close in the light and the decrease in transmitter upon illumination respectively.

Figure6a. Cyclic GMP-gated channels in the outer segment membrane are responsible for the light-induced changes in the electrical activity of photoreceptors. (Neuroscience, Purves et al., 2001).

Figure6b. Change in the level of transmitters upon illumination.
Colorado Physiology
In conclusion, in the light, less transmitter is released which means less signals are passed on to the next cells in the visual pathway. Therefore the rod cells function in detecting light only the under dim.
History
Structure of the Eye
What is Rhodopsin
Spectroscopy
Rhodopsin
Lesson plan
References