Market may slide further on account of weak Asian markets in morning trades and overnight fall in the US markets. Political uncertainties and continued selling pressure may also drag the domestic indices further down. The FIIs remained net sellers in equities for last couple of sessions may also weigh on the investors' sentiment. Key indices, the Nifty may get support at 4100 level and on the upside it could test higher levels at 4260. The Sensex has a likely support at 14,100 and may face resistance at 14,500.
US indices declined on Thursday as investors worried about the economic outlook after the head of the biggest U.S. mortgage company said the housing downturn could create a recession. While the Dow Jones slipped marginally at 13236, while the Nasdaq lost 11 points to close at 2542.
Indian ADRs had a mixed outing on the US bourses. Among the major losers VSNL, Rediff, HDFC Bank, Satyam, Wipro, MTNL, Patni Computers and Tata Motors shed over 1-3% each. While, Infosys, Dr Reddy's, Satyam gained marginally.
Crude oil prices gained marginally, with the Nymex light crude oil for October delivery moved up by 57 cents to close at $69.83 a barrel. In the commodity space, the Comex gold for December series lost 30 cents to settle at $668.40 a troy ounce.
US indices declined on Thursday as investors worried about the economic outlook after the head of the biggest U.S. mortgage company said the housing downturn could create a recession. While the Dow Jones slipped marginally at 13236, while the Nasdaq lost 11 points to close at 2542.
Indian ADRs had a mixed outing on the US bourses. Among the major losers VSNL, Rediff, HDFC Bank, Satyam, Wipro, MTNL, Patni Computers and Tata Motors shed over 1-3% each. While, Infosys, Dr Reddy's, Satyam gained marginally.
Crude oil prices gained marginally, with the Nymex light crude oil for October delivery moved up by 57 cents to close at $69.83 a barrel. In the commodity space, the Comex gold for December series lost 30 cents to settle at $668.40 a troy ounce.
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