After trading in an intra-day range of 19 points, the Bombay Stock Exchange (BSE) sensex ended marginally (3.98 points) higher at 3,307.20.
Gains in Reliance Industries and ITC held the market together as technology stocks took a beating.
Elsewhere, banking stocks closed higher on hopes that the budget would unleash reforms, including higher foreign portfolio and foreign direct investments.
Meanwhile, at the National Stock Exchange (NSE), the CNX Nifty index gained 0.55 points to end at 1,066.15. Losers outnumbered gainers amid lower volumes, indicating a bearish undertone.
Overall, investors seemed reluctant to take fresh positions in anticipation of developments on the US-Iraq crisis over the weekend.
