The Nifty and the Sensex closed marginally in the red on Friday despite the bill on FDI in multi-brand retail going through in the upper house (Rajya Sabha) of the parliament.

The Nifty closed at 5907, down 24 points while the Sensex closed at 19,424 down 63 points.

“This has given hope that, further reforms will be taken up in the remaining part of the Winter session of the Parliament. We expect the Government to take up further fiscal reforms over the next few days. The developments on the ‘fiscal cliff’ issue in USA will also be keenly watched and a resolution on the same will be positive for the markets, said Dipen Shah, Head –PCG Research Kotak Securities.”

Volatility was down two per cent and the volatility index, India Vix closed at 14.96.

Maruti, M&M, Tata Power, JP Associates and Lupin were the top five Nifty gainers while DLF, Axis Bank, Sesa Goa, HCL Tech and Tata Steel were the top losers.