The markets traded in a very narrow range and finally closed in a listless manner.The Sensex closed at 19,980 losing 13 points while the Nifty shed nine points to close the week at 6,002.
Earlier the day, the markets opened flat on back of subdued cues from Asia, opening up 24 points at 20,022.
As the day progressed the markets traded in a close range of 100 points and finally in the afternoon trades the markets slipped to the day's low of 19,877 on the back of selling pressure in the broader markets.
The smallcap and the midcap index fell 2% each underperforming the BSE benchmark index after a good run throughout the week.
The main reason for the drag was the markets regulator Securities and Exchange Board of India barring founders and related entities of four firms from trading on the stock exchanges as these firms had indulged in "fraudulent and unfair"
trade practices.
The four firms are Murli Industries, Ackruti City, Welspun Corp and Brushman India. All these scrips fell between 12%-17% in the opening trades.
The three listed airlines companies -- Jet Airways, Kingfisher Airlines and SpiceJet were in the limelight today for a good reason. Each of these were up more than 3% on the Bombay Stock Exchange on reports that the domestic airlines have proposed a massive hike in air fares.
The Asian markets closed on a mixed note. Hang Seng lost 0.5% to close at 23,320 while the Nikkei was flat at 10,178. Seoul Composite and Taiwan Weighted gained 0.3% -0.4% while Straits Times closed down 0.8%.
