Slide may continue

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 4150 level and on the upside it could test higher levels at 44245. The Sensex has a likely support at 14,000 and may face resistance at 14,250.

US indices ended weak on Tuesday amid a fresh rise in crude oil prices. The Dow Jones dropped by 35 points to close at 11807 whereas the Nasdaq ended 17 points lower at 2368.

Indian floats ended lower. VSNL was the major loser dropped 4.34%, while Tata Motors, HDFC Bank, ICICI Bank, Infosys, MTNL and Rediff dropped nearly 2-3% each. Wipro and Patni Computers dropped nearly 1% each. Dr Reddy's & Satyam was the only gainer amongst the ADRs and gained 1.37% and 0.08%.

Crude oil prices moved up, with the Nymex light crude oil for July delivery rising by 26 cents to close at $137 a barrel. In the commodity space, the Comex gold for August 2008 series added $4.40 to settle at $891.60.