Indian bourses trimmed some off the intra-day losses and closed the week near support levels on Friday responding to tremor and tsunami waves in Japan, feeble US financial data and middle-east fears.

A quake of magnitude 8.9 hit northern coast of Japan actuating over 10 meters high Tsunami waves

As per market professionals, aside from sentimental knee-jerk response, Indian bourses will not be affected by the tragedy in Japan.

Adrian Mowat, MD & Chief EM Strategist, JP Morgan said, "Does it make any difference to Indian economy? I do not think so. Is it hitting sentiment in the market today? Absolutely, the markets moved down. But I do not think people can change their investment decisions in India because of this tragedy in Japan."

The quakes hit worldwide bourses severely which were already stressed on financial fears. Indian bourses belled the day in the red responding to weekly unemployed claims in the US that surged to 397000.

Public turbulence in the middle-east also kept the capitalists nervous.

The country's Industrial Output during January originated at 3.7% as compared to 2.5% during December.

Rohini Malkani, Economist, Citi India stated, "With the base effect impacting the numbers, Jan industrial output remained subdued but came in higher than ours and consensus expectations (Citi 2.8%; Consensus 2.9%). Given the continuation of the high base effect in the coming quarter (growth averaged 15%), we except the numbers to remain in low single-digits."

"We thus maintain our view of the RBI hiking by an additional 50bps in 2011 with a 25bps hike likely in its review next week and a further 50bps 2012," she added.

Indian Finmin Pranab Mukherjee stated that he was not happy with the rapidity of growth of India's industrial output.

The BSE Sensex marked its closure at 18174.09, down 153.89 points (-0.84%) after touching an intraday low of 18063.29 and an intraday high of 18368.43.

In contrast, the broad-based Nifty closed the week after shedding 48.95 points at 5445.45. It hit an intraday low of 5411.55 and an intraday high of 5502.70 on Friday.

The BSE Midcap Index lost 1.07% and the BSE Smallcap Index remained down by 1.12%.

Amongst the sectoral indices, the BSE Metal Index declined 1.91%, BSE IT Index dropped 1.49% and BSE Power Index slipped 1.49%.

The BSE Oil&gas Index surged 0.81% and the BSE FMCG Index gained 0.03%.

The top Sensex losers were BHEL, RCom, Rel Infra, Sterlite Ind and JP Associates.