WEEKLY EQUITY MARKET REPORT-27 OCT TO 01 NOV 2014

INDIAN BENCHMARKS rose in a special "mahurat" trading session for Diwali on Thursday, led by gains in Suzlon Energy Ltd. while hopes for continued foreign fund inflows into the country also boosted sentiment.

Sentiment for stocks remains supported by hopes for more economic reforms after the government earlier this week lifted price controls on diesel and set the stage for liberalization of the coal industry. Investors remain hopeful for further steps after Prime Minister Narendra Modi's party won two state elections earlier this month.The INDIAN BENCHMARKS SENSEX ended 0.24 percent higher at 26851 and the 50-share NIFTY ended 0.23 percent up at 8014.

GLOBAL MARKET CHASE

ASIAN STOCKS fell with Tokyo shares down in reaction to steep overnight selloffs in European and U.S. equity markets.

U.S. STOCKS rose as investors applauded robust U.S. gross domestic product data.

EUROPEAN STOCKS lower, tracking the downward trend in U.S. and Asian markets and as disappointing German consumer climate data added to concerns over a slowdown in the euro zone's biggest economy.

WEEK AHEAD

Other Asian shares had sagged on Thursday after a retreat on Wall Street and falling crude oil prices rekindled investor anxiety over slowing global growth, while a mixed picture on Chinese manufacturing failed to impress markets.

Domestic earnings and other global events will remain key for market direction next week

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