Market may remain uncertain

The market may remain uncertain owing to lack of clarity and may witness sideways movement on the back of presence of intra-day volatility. Mixed fund inflows into domestic equities and global market trend will weigh on the local indices. Among the domestic indices, the Nifty has likely support at 3800 and may face resistance at 3900. The Sensex has a likely support at 13000 and may face resistance at 13400.

US indices ended mixed on Friday amid fresh rise in crude oil prices. While the Dow Jones moved up by 20 points to close at 12481, the Nasdaq ended three points lower at 2449.

Indian ADR losers pipped gainers on the US bourses. VSNL fell sharply and tumbled over 3% and Tata Motors and Infosys declined over 1% each while Patni Computers, Rediff, MTNL, HDFC Bank, Dr Reddiy's lab lost marginally. ICICI Bank rose over 1% while Satyam, Wipro ended with steady gains.

The Nymex light crude oil for May delivery rose 59 cents to close at $62.28. In the commodity space, the Comex gold for April series declined $6.90 to settle at $664.20 a troy ounce.