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World markets remain buoyant

Barring the stock markets in Hong Kong (down 2.7%) and Japan (down 0.8%) global indices ended week on a positive note. The Brazilian markets bounced back from last week’s fall. The US markets ended the week higher by 1%. As the US markets enter the holiday season, there are growing concerns about the pace of the rally. The euphoria in the markets has taken the Dow Jones Industrial Average (DJIA) to record highs. The Chinese central bank made a surprise move to cut interest rates and the European Central Bank (ECB) hinted that it was willing to step up its asset purchases to support the struggling European economy. The European markets too were buoyant. The German Dax, the French CAC and the British FTSE ended the week higher by 5.2%, 3.4% and 1.5% respectively. The Indian Indices, buoyed by global sentiment, were up 1% for the week. Expectations are high from the upcoming winter session of parliament regarding the passage of key economic bills. Key world markets during the weekAmong the sectoral indices this week, banking and capital goods stocks were clearly the top performers, while realty and metal stocks were the biggest losers. BSE indices during the weekNow let us discuss some of the key economic and industry developments in the week gone by. As per a leading financial daily, the Department of Telecom (DoT) and the defense ministry have reached a partial understanding regarding the issue 3G spectrum held with the latter. The defense ministry has agreed to

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