WEEK WRAP
Markets are set to end the weak on a negative note due to weakness in financial shares as investors turned jittery on expectations of 25 bps rate hike by Reserve Bank of India next week.

India has also underperformed Asian peers in the past week which posted gains due to weakness in the Dollar Index. Rajesh Iyer, Head Products & Research, Kotak Wealth Management said, “Indian markets have shown a mild correction this week on account of the F&O expiry.

BHEL was off 0.1%, but peer Larsen & Tourbo dipped 4%, dragging the Sensex down 44 points. Suzlon Energy and Praj Industries were off 4% each. Crompton Greaves fell 10% after fourth results disappointed. Net profit was up 5% at Rs 270 crore y-o-y and margins were hit due to higher input costs.

ASIAN & EMERGING MARKET
Asian shares fell on Friday following weak economic data from the United States , showing growth had slowed, while Sydney was hurt by the increasing strength of the Australian dollar.

Sydney fell 1.52 percent as exporters were hurt by the stronger "Aussie", which is approaching US$1.10 after credit ratings agency Standard & Poor's last week downgraded its outlook on US debt for the first time The greenback was pressed on Thursday after US Fed chief Ben Bernanke said there was no timetable to raise interest rates while its present loose monetary policy would continue through to June.