Weekly Market Review

Indian Market:

The benchmark Nifty bounced back smartly in the last half an hour of trade and closed above the 6000 - an important psychological level.

30-share BSE Sensex closed at 20,032.34, up 91.30 points or 0.46% and the 50-share NSE Nifty rose 30 points or 0.50% to settle at 6,017.70. The Nifty November futures' premium trimmed down to 22 points from 40 points. For the week, the Sensex fell 0.66% and Nifty lost 0.8%.

Bharat Heavy Electricals Ltd., India's biggest power-equipment maker, posted a 33 percent increase in second-quarter profit, beating estimates, as orders rose on demand from utilities.

Global Cues:

Asian markets edged lower on Friday as Sharp Corp. and Advantest Corp. cut their profit forecasts. The key benchmark indices in China, Hong Kong, Taiwan, Singapore, South Korea, Indonesia were down by between 0.13% to 1.70%.

European stocks fell, trimming the Stoxx Europe 600 Index's first October rally in three years, as concern mounted that further stimulus will fail to sustain the pace of the economic recovery.

U.S. economic growth likely edged up in the third quarter but not enough to chip away at high unemployment or change perceptions of more monetary easing from the Federal Reserve next week.