Global weakness may weigh

US indices ended weak in yesterday's trades and tracking the same the Asian markets are also trading weak in morning trades, which may weigh on the local indices and thereafter the market could exhibit volatility during intra-day trades. However, the prevailing north-bound journey and strong fund inflows may add to the market advantage and help the sentiment turn positive. Among the domestic indices, the Nifty could test 6,200 and above this level may surge to 6,400, while on the downside it could slip to 5,840-5,540 levels. The Sensex has a likely support at 19,500 and may face resistance at 21,000.

US indices plummeted on Thursday after Bhutto's assassination stoked geopolitical concerns and economic reports showed weakness in US markets. While the Dow Jones dropped 192 points at 13,360, the Nasdaq fell 48 points to close at 2,677.

All the ADRs on the US bourses tanked on Thursday. Tata Motors led the slump and tanked 6.43% and Satyam, ICICI Bank, HDFC Bank and VSNL fell over 5% each. While, Infosys, Wipro, Dr Reddy's Lab, MTNL and Rediff slipped over 1-4% each.

Crude oil prices rose further after the assassination of Pakistani opposition leader Benazir Bhutto raised concerns about stability in the Middle East. The Nymex light crude oil moved up by 65 cents at $95.97 per barrel. In the metals segment, the Comex gold for February series moved up by $2.30 to settle at $831.80 an ounce.