Mumbai: India equities markets were quiet as investors stayed on the sidelines eying the federal budget to be presented by Finance Minister Pranab Mukherjee on Friday.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened at 17,656.81 points and was ruling at 17,746.63 points at 10.20 a.m., up 70.78 points or 0.40 percent compared to its previous close at 17,675.85 points. The 50-scrip S&P CNX Nifty of the National Stock Exchange was similarly ruling dull at 5,406.15 points, up 25.65 points or 0.48 percent from its previous close.

The government will be hoping to bridge the fiscal deficit in this budget as the next is widely expected to be laden with populist measures, given that it would be the last one of the United Progressive Alliance government before the general elections in 2014.

The markets had been disappointed on Thursday with the Reserve Bank of India keeping key interest rates unchanged and hinting that inflation would remain its prime focus even if it meant a slowdown in growth in the short-term.

Broader markets were doing moderately better on Friday with the BSE 500 index trading 0.49 percent higher. The BSE midcap index rose 0.72 percent while the BSE small cap index was trading 0.59 percent up.

The market breadth was positive with 1,266 stocks advancing, 734 on the decline and 72 remaining unchanged.