The markets declined on thin volume during the week ended February 22 on worries about the impending recession in the US. Investors, however, have pinned hopes on the budget scheduled to be presented on February 29.

Analysts are expecting a significant move next week as the derivatives contracts expires on February 28 - a day ahead of the budget.

The main index of the Bombay Stock Exchange, the Sensex, moved between a high of 18,314.10 and low of 17,294.73 before ending the week at 17,349.07 - a fall of 766.18 points over the last weekend close of 18,115.25.

The National Stock Exchange's S&P CNX Nifty declined 192.15 points to 5,110.75 from the previous weekend close of 5,302.90.