THE market is expected to consolidate this week, after surging more than 240 points last week on the expectation of good news from the airport talks. The Hang Seng Index closed higher at 6,988.96, up 89.03 points, on Friday as the July index futures contract expired. ''The technical rebound from the 6,700-level has been accomplished and the market will stay within the 6,800 to 7,100 points trading range,'' said Andrew To, director of PW Asia Brokerage. Due to strong demand from overseas institutions for stocks in utilities and blue chips, the index rose to 7,000 points on Friday. Mr To said he expected there would be profit-taking as the index approached 7,100 points. The resistance level will be at 7,100 with strong support at 6,800 points. The market is unlikely to drop below 6,500, other brokers said. Percy Au-Young, research director of Sun Hung Kai Securities said investors should pay attention to some quality second-liners, such as Joyce Boutique, Wing Hang Bank and Tian An. On Monday, after a steep fall over the past four weeks, the Hang Seng Index rose sharply to 6,858, going up by 107 points. On Tuesday, News Corp's surprise US$525 million payment for a controlling stake in HutchVision provided the market with an early boost, but the gains quickly evaporated as the index rose just 7.93 points. The index closed at 6,865.97 on turnover of $2.9 billion. The early-morning rally, saw the index jump 76.88 points within the first 30 minutes of trading, but concerns about China's economy and the health of senior leader Deng Xiaoping hurt the red-chip counters. On Wednesday, the expected results from the banking sector provided the market with a much-needed boost and the index climbed 37 points to 6,903. Turnover was only $2.37 billion, with blue chips attracting most of the attention. On Thursday, a combination of disappointing interim results, rumours and the expiry of the July index futures contract hit market sentiment. The index dipped 3.28 points as renewed interest from local investors was offset by strong selling by foreign institutions.