The Indian capital market saw a quiet week with the benchmark index of Bombay Stock Exchagne (BSE) Sensex gaining just 3.71 points to 17,574.53 and Nifty of National Stock Exchange (NSE) marginally improving by 6.45 points to 5269.05 during the close of the week on Friday.

The stock market failed to uphold its last week's optimistic trend, when the Sensex gained 505 points. Uncertainty in worldwide market and inflation fears attributed the loss in the stock market.

The Midcap index surged by 1.53% whereas the Smallcap index grew by 1.62% during the week.

Brokers stated that profit booking and inflation issues were responsible for the slide.

Sectorwise, 13 sectors closed the week on a positive note. The top gainer was consumer durable sector that gained 3.03% as the purchasing power was increased following good rain.

An end to the row over regulation of Unit Linked Insurance Products (Ulips) and China's decision to allow its currency more freedom to move against the US dollar, boosted the market at the onset of the week. The government's decision to raise fuel prices stoked inflation worries, pulling the market lower on last trading day of the week.

But on Friday, the shares of oil and gas firms led the support to stock markets post the EGoM approval of increase in the prices of petroleum products. Select telecom and power stocks also gained.

The other news that weighed on the stock market was that RIL and RNRL inked a revised gas supply master arrangement (GSMA). Oil and gas stocks surged after the government freed petrol rates.

Among the state owned Oil marketing firms, BPCL climbed 19.1%, HPCL rose 18% and IOC gained 12.87%.

RCom gained 4.3%. HUL soared 3.6%, Maruti Suzuki climbed 3.3% and Hero Honda increased by 1.4%.

Bank stocks fell on rate hike fears. ICICI Bank declined 1.1%, HDFC Bank by 2.2%, SBI by 3%. In the IT sector, TCS eroded by 2.5%, Infosys by 0.14% and Wipro by 4.7%. (With Inputs from Agencies)