Uncertainty may prevail in early trades

A look at how the indices fared at their closes: Sensex 13429.48 (-0.57%); Nifty 3852.80 (-0.62%); Nasdaq 2445.86 (-0.13%); Dow 12342.56 (+0.30%).

Uncertainty in the market is likely to prevail after the Sensex dropped over 76 points in its last trades. The market may witness strong intra-day volatile moves coupled with stock-specific action. Overnight fall in the US markets and major Asian indices, Nikkei and Hang Seng, dropping nearly 1% in morning trades. Amidst intra-day volatility, the market may recover from its lows at later stages of the trading, as the sentiment remains bullish on higher FII inflows into the domestic market and falling international crude oil prices.

US indices exhibited a mixed trend on Friday, with the Dow Jones moving up by 37 points to close at 12343 and the Nasdaq dropping three points to close at 2446.

Except Rediff, which was marginally up by 0.06%, all the Indian ADRs on US bourses ended in the red. Patni Computer was the biggest looser and dropped 4.03% while Dr Reddy's was down by 3.34%. VSNL, MTNL, HDFC Bank, ICICI Bank, Infosys, Wipro, Satyam and Tata Motors lost over 1-2% each.

Crude oil prices in the US market was marginally down, with the Nymex Light Crude oil for December delivery losing 45 cents to close at $55.81 a barrel. However, in the Commodity space, the Comex gold for December series added 80 cents to settle at $622.50 a troy ounce.