Mumbai: Depressed sentiment prevailed at Bombay Stock Exchange (BSE) on April 29 with share values resuming on a weak note following distress selling by operators on the back of negative advices from New York.

IT counters suffered a setback and majority of them were quoted in negative territory due to a sharp drop of nearly 49 points in the tech-heavy NASDAQ composite index last weekend.

Select old economy heavyweights also declined on profit- taking by local funds.

Dealers said that foreign institutional investors preferred to sit on the sidelines, reluctant to take fresh large positions, but made small-lots purchases of a few blue- chips at the expense of selling other stocks.

The BSE-30 share sensitive index opened barely steady at 3,372.94 and gradually moved to a low of 3,342.23 before being quoted at 3,343.88 as against April 26 close of 3,371.70.

PTI