Bombay stocks closed the first quarter on a low note Friday after a record-setting week. The BSE Sensex dropped 27 points to close at 11,280. The drop closes out a week in which the index hit a new high and gained 3%. Among the major gainers Friday were engineering company BHEL, up 5.2% on reports of a strong quarter-end order book. Drug maker Cipla rose 3.9% and small car manufacturer Tata Motors ( TTM) added 2.7%. The major losers were pharmaceutical company Ranbaxy, which gave back 4.5% a day after Thursday's 10% gain. Software major TCS dropped 2.7%, and oil major ONGC dipped 2%. Indian Oil advanced 1.4% on the news that its naphtha exports increased four-fold. Airline operator Jet Airways rose 6.7% on the news that the government paved way for its acquisition of Sahara.