In rangebound tradings on Friday on the BSE, the volumes in the counters were also lower than the daily averages. However, Zee Tele, Pentafour and DSQ Software were some of the bright spots during the day's trading.

The BSE Sensex opened slightly up at 4653.09 and was rangebound between 4657.30 and 4596.91 before closing at 4629.61 as against yesterday's close of 4639.36, netting a small loss of 9.75 points.

The Nifty on the other hand opened at 1389.25, hovered between 1389.40 and 1368.85 and closed at 1373.55, a net loss of 16.3 points oner its previous close of 1389.60.

According to Ambareesh Baliga at Kotak Securities, the market is expected to dip slowly during the next few sessions as ``we are likely to see an absence of follow-up buyings to meet the supply.'' According to a dealer with a domestic broking house, the FIIs are likely to close their books by November 15 and the new allocations would come only after January 15. ``So I believe there won't be much action in the market till the end of this year.''

Since the outstanding positions are at `respectable' levels, market players feel that Satuday's badla session is likely to witness the avearge carry forward rates not deviating substantially from the last week's 14.5 per cent to 15.5 per cent levels. The last badla session on the Calcutta Stock Exchange also witnessed the carry forward rates declinging to around the 17 per cent level against 23 per cent the previous week.

For the next week, technically, the Sensex is expected to hover in the region of 4342 to 4747. However, ``in case the Sensex closes above the 4747 level for three consecutive sessions, we can expect a major rally,'' says Hanuman Bhatia at Parag Parikh Financial Advisory Services. ``In case the index closes below the 4342 level, we can see another 200 points off the Sensex.''