Market may remain volatile

The market is likely to witness volatility as US & European market ended on positive side and major Asian gauges like the Nikkei, the Hang Seng index, the Straits Times Index and the Jakarta index are also moving in mix trend in current trades and may rise the indices in early trades. Although the domestic indices moved up on Friday, intra-day volatility remains the major concern. Among the local indices, the Nifty could test higher levels in the 3430-3470 range and has a support at 3340. The Sensex on the downside may slip to 10900 and may face resistance at 11200.

In the US markets, the broader Dow Jones was marginally up by 6 points at 8131 and the tech-heavy Nasdaq was gained 3 points to close at 1673.

Barring few, rest of the Indian floats had a field day on the US bourses. Rediff gained 2.73%, while Infosys, Wipro, Dr Reddy, MTNL, VSNL and HDFC Bank gained around 1% each. However, Tata Motors slipped over 4% and Satyam, Patni Computers and ICICI Bank fell marginally. Daily trend of FII/MF investment in equities

Crude oil prices in the global market moved up on Friday. The Nymex light crude oil for May series gained by 35 cents at $50.33 per barrel. In the commodity segment, the Comex gold for April delivery moved down by $11.90 to settle at $867.90 an ounce.