Market may open firm

The market sentiment is likely to remain bullish following firm Asian markets in current trades and overnight gains in US markets. The renewed buying interest in heavyweights and banking stocks may keep the bias positive for the day. Among the negative factors FIIs remained the net sellers in equities is likely to exert pressure on the investor sentiment. Among the key domestic indices, the Nifty could test higher levels in the 4245-4270 range and has a support at 4100. The Sensex has a likely support at 14100 and may face resistance at 14400.

US indices finished slightly higher on Tuesday on easing Treasury yields, with the Dow Jones closing 0.2 percent higher at 13635, up 22 points, while the Nasdaq changed a little to close at 2627.

The upsurge in both the domestic and US markets spurred the Indian ADRs trading on the US bourses. ICICI Bank led the pack with gains of 5.39% followed by VSNL gaining 3.87% while Wipro, Tata Motors, HDFC Bank, MTNL, Patni Computers and Rediff surged over 1-2% each. However, Infosys, Satyam and Dr Reddy's slipped around 1% each.

Crude oil prices in the international market moved up, with the Nymex light crude oil for July delivery rising by a cent to close at $69.10 per barrel. In the commodity space, the Comex gold for August series surged by $4.80 to settle at $664.70 a troy ounce.