The Nifty and the Sensex closed marginally in the red on Friday.
The Nifty closed at 5,146, down 19 points (0.37 per cent). The Sensex closed at 16,973, down 60 points (0.35 per cent).
Though both the indices were in the red throughout the day, they recovered to close marginally in the red.
“I think today’s market behaviour is based on expectations of fresh FII inflows, action on the policy front and correcting crude prices,” said independent market analyst Mr Nirmal Rungta.
“There is hope being built around sectors that require a policy boost, such as retail and aviation,” he added.
Volatility was up 3.2 per cent and the India Vix closed at 20.58.
All the indices on the NSE and the BSE closed flat, with some marginally in the green and others marginally in the red.
ONGC, Kotak Bank, Bank of Baroda, Cipla and Maruti were the top five Nifty gainers, while JP Associates, Hindalco, ACC, Ambuja and Tata Steel were the top five losers.