Northbound journey to continue

After witnessing the surge on Friday the market is expected to make further headways on firm Asian markets. The market may see some short-term profit bookings in frontline stocks creating a volatility in the afternoon trades.

Major US indices slipped on Friday, clueless investors questioning themselves whether another rate cut is likely from Federal Reserve after a handful of economic readings. The Dow Jones industrial average fell by 17 points, or about 0.12% lower, the Nasdaq moved down by eight points to close at 2702.

The Indian ADRs also witnessed a fall on the US bourses. MTNL tumbled 6.18% followed by VSNL shedding 3.44%, while Infosys, Satyam, Wipro, Dr Reddy's Lab and Patni Computer were down around 0.5 -2% each. However, Tata Motors, ICICI Bank, HDFC Bank and Rediff gained over 1-2%.

Crude oil prices slipped on Friday, with the Nymex light crude oil for November delivery was down by $1.22 to close at $81.66 a barrel. In the commodity space, the Comex gold for December delivery gained $10.10 to settle at $735.50 an ounce.