Market in profit booking mode

The south-bound trend in the market is likely to continue on the back of a weak global indices. Intra-day volatility and further slump in FIIs may also weigh on the sentiment. Among the key domestic indices, the Nifty may test 4555-4490 on the downside while on the upside the index could test higher levels of 4620, while the Sensex could test higher levels of 15732 and has a likely support at 15413.

US indices fdipped Thursday -- ahead of the closely watched July jobs report -- with investors bailing out of tech, financial and commodity shares in a step back from the big rally of the past month. While the The Dow Jones industrial average (INDU) lost 25 points, at 9256 and the Nasdaq composite (COMP) shed 20 points, at 1973.

All ADRs ended with losses on the US bourses. Satyam and Rediff dropped over 5-6% each. Patni Computer, MTNL, HDFC Bank, Infosys, Dr Reddy and Tata Motors were down around 2-3% each. While ICICI Bank, VSNL & Wipro ended with marginal loss.

Crude oil prices inched lower, with the Nymex light crude oil for September delivery slipping by 3 cents at $71.94 a barrel and in the commodity segment, the Comex gold for September series slumped $3.40 to settle at $962.90 an ounce.