Market may advance further

Following the Fridays sharp turnaround that saw the Sensex cross the 14000 mark during intra-day trades, the market may register more gains on the back of a bullish sentiment. Also the rising FII inflows coupled with strong ongoing Asian Indices is also likely to weigh positively on the sentiment. Among the key domestic indices, the Nifty could test higher levels at 4110 -4150 while it has a likely support at 4020 on the downside. The Sensex has a likely support at 13980 and could face resistance at 14150.

US indices registered gains, with the Dow Jones closing above the level at 12556, up 41 points, while the Nasdaq moving up by 18 points to close at 2503.

The Indian ADR pack also rallied sharply on the US bourses. HDFC Bank led the upmove and zoomed nearly 7.34% while ICICI Bank, Infosys and Patni Computers flared up over 2-4% each. Satyam, Wipro, Dr Reddy, Tata Motors, MTNL, VSNL and Rediff rising over 1% each.

The Nymex light crude oil for february delivery raised by $1.11 to close at $52.99 a barrel, while the in the commodity segment, the Comex gold for February 07 delivery advanced $13 to settle at $626.90 an ounce.

Results to be announced today are Axis Capital Markets (India) Ltd, Aztecsoft Ltd, Bajaj Auto Finance Ltd, Bliss GVS Pharma Ltd, Dalmia Cement (Bharat) Ltd, Fine Line Circuits Ltd, JHS Svendgaard Laboratories Ltd, Kamdhenu Ispat Ltd, Krishna Lifestyle Technologies Ltd, L T Overseas Ltd, Madhusudan Leasing & Finance Ltd, Madhusudan Securities Ltd, Maharashtra Scooters Ltd, Nicco Parks & Resorts Ltd, Rajesh Exports Ltd, RPG Transmission Ltd, Sanwaria Agro Oils Ltd, South Indian Bank Ltd, Sundaram Multi Pap Ltd, Suryodaya Plastics Ltd, Triveni Engineering and Industries Ltd, Tulip IT Services Ltd, Typhoon Holdings Ltd, Venus Remedies Ltd, Wipro Ltd.