Sensex static as traders wait for budget

MUMBAI: Indian stock markets were caught up in volatile trading this week with a key index see-sawing between red and green terrains but managing to
end Friday with meagre gains.

Global cues were depressing too. Bourses across the world traded on an uncertain note after the US Federal Reserve's decision to increase lending rates to banks was sensed as a possible move to initiate tightening of the easy credit policy.

Investors at Indian markets also speculated on the stance the government is going to take on removal of stimulus measures, given the fact that most of the economic recovery was fuelled by government spending and subsidies to various sectors.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) moved up only 39.04 points or 0.24 per cent to end Friday at 16,191.63 points, from its previous weekly close at 16,152.59 points.

The broader S&P CNX Nifty of the National Stock Exchange (NSE) too followed a similar trajectory and closed the week at 4,844.9 points, gaining 18.15 points or 0.37 percent.

Broader market indices ended the week in the red with the BSE midcap index closing 1.19 per cent down and the BSE smallcap index a similar 1.19 per cent lower. link...