The market is likely to exhibit weak trends on the back of a strong intra-day volatile moves. The sentiment is likely to remain sluggish on weak Asian cues. Also the FIIs remaining net sellers of equities in the domestic market may see the investors remain jittery. Among the local indices, the Nifty could test higher levels at 3100 and has a support at 3000. The Sensex on the downside may slip to 10200 and may face resistance at 10450.
US indices remained flat on Monday as investors awaited the presidential election and mulled weaker oil prices, a stronger dollar and more signs that the economy is in a recession. While the Dow Jones lost 5 points at 9320, the Nasdaq moved up by 5 points to close at 1726.
The Indian ADRs had a mixed outing on the US bourses. Tata Motors tumbled over 16% and VSNL, Infosys and Satyam fell 0.25-9% each. While, MTNL, Wipro, HDFC Bank, ICICI Bank, Patni Computer, Dr Reddy and Rediff gained around 1-5% each.
Crude oil prices moved down, with the Nymex light crude oil for December delivery moved down by $3.90 at $63.91 a barrel. In the commodity segment, the Comex gold for December series was up by $8.60 to settle at $726.80 a troy ounce.
US indices remained flat on Monday as investors awaited the presidential election and mulled weaker oil prices, a stronger dollar and more signs that the economy is in a recession. While the Dow Jones lost 5 points at 9320, the Nasdaq moved up by 5 points to close at 1726.
The Indian ADRs had a mixed outing on the US bourses. Tata Motors tumbled over 16% and VSNL, Infosys and Satyam fell 0.25-9% each. While, MTNL, Wipro, HDFC Bank, ICICI Bank, Patni Computer, Dr Reddy and Rediff gained around 1-5% each.
Crude oil prices moved down, with the Nymex light crude oil for December delivery moved down by $3.90 at $63.91 a barrel. In the commodity segment, the Comex gold for December series was up by $8.60 to settle at $726.80 a troy ounce.
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