The BSE benchmark Sensex on Friday closed eight points down on subdued buying by funds ahead of Union Budget.
The Sensex ended lower by 8.35 points, or 0.04%, to 19,317.01. The gauge moved between 19,401.75 and 19,289.83 during the session. The index had dropped 317 points in the previous session.
Similarly, the broad-based National Stock Exchange index Nifty fell by 1.95 points, or 0.03%, to 5,850.30. It moved between 5,873.80 and 5,835.80 druing the session.
Brokers said the market participants were cautious ahead of the general budget this month-end and refrained from enlarging their positions.
They said the market was partly supported on mixed pattern of trade in global markets and an upsurge in market-heavy Reliance Industries on reports the company with its Russian partner starting butyl rubber plant in Gujarat.
The RIL stock rose 0.69% to Rs. 862.65 and second heavy Infosys rose by 1.06% to Rs. 2,836.55. The two carry nearly 16% weightage on the Sensex. Another index-kitty stock Bharti Airtel surge 4.64% to Rs. 309.80 on company bond-sale plans.
HDFC Ltd fell by 1.84% to Rs. 800.35 on Goldman Sachs downgrading the stock, while ITC fell by 1.50% to Rs. 292.05 on fears of hike in excise duty in the budget.
In 30-BSE index components, 15 stocks declined led by Coal India, Maruti Suzuki, Tata Motors, HDFC Bank, Hindustan Unilever, State Bank of India and Hero MotoCorp.