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Sensex drops by 32.36 points

Reflecting the downtrend, the BSE Sensitive index opened below 4100 mark at 4051.58 points. During the intraday trading, it recovered to day's high of 4133.72 points on renewed buying support from local institutions and general investors. But it could not sustain the high level and came down to the day's low of 4051.58 points before closing at 4085.93 points, suffering a loss of 32.36 points as against the previous close of 4118.29 points.

The BSE National index also drifted below the psychological barrier of 1800 mark and finished at 1795.17 points over the last trading day's close of 1806.18 points, losing 11.01 points.

On the contrary, the Dollex index improved nominally by 0.26 points to 171.03 points as compared to previous close of 170.77 points, whereas the BSE-200 index ruled nearly steady at 406.19 points as against last working day's close of 406.68 points suffering a loss of 0.59 points.

The foreign institutional investors were absent from the market as most of the foreign capital markets including Hong Kong and London were closed today on account of the week's Easter holiday.

Marketmen were expecting a low badla rate of around 2 per cent on Saturday, but it was very high in the range of 6 to 8 per cent which had a negative impact on equity prices, leading brokers said.

However, domestic institutions were not aggressive in doing business. Being a trading holiday tomorrow on the BSE and NSE, the latter is doing its settlement today, which forced the bull operators to square up their positions today itself. This also affected the BSE.

UNI