The markets ended on a flat note on Friday with both Indian benchmark indices closing marginally in the green after a volatile trading session owing to apprehensions in the market about the upcoming Budget.

The Nifty was up 0.37 per cent to close at 5,360, gaining about 20 points while the Sensex was up by 0.30 per cent or 53 points and closed at 17,637. The realty stocks were the worst hit and registered a fall of over two per cent on the bourses.

“Markets would continue to be volatile for the next 7-10 days owing to expectations from the upcoming Budget. There is lot of apprehension and uncertainty among marketmen about what the government would do in the Budget as inflation is expected to rise owing to rise in crude oil prices. Moreover, the issue of ballooning fiscal deficit is also hovering in the minds of marketmen,” said Ms Madhumita Ghosh, Head of Research Unicon Financial Intermediaries.

“Banking stocks moved up today on the back of sentiment that RBI would come out with proposals that would be good from the liquidity and NPA management issue. However auto stocks were flat today as the sales numbers released yesterday were below expectations,” she added.

Volatility was up, with the India Vix closing up 0.61 per cent at 27.84.

Sun Pharma, IDFC, Jindal Steel, Ambuja Cement and ICICI were the top five Nifty gainers while DLF, ONGC, Siemens and Hindalco and Bajaj Auto were the losers on the Nifty.

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