Market Outlook for June, 2014

We saw one of the historic general elections in India, where after 3 decade a single party has got clear majority. This has rejuvenated the hope of Indian equity investors. Market celebrated this by hitting the all time high of 7563 levels and we saw the biggest monthly gain since October 2013. Moving ahead Union Budget 2014-15 will be an important event – primarily to know the new government’s vision on economic policies and the fiscal consolidation roadmap – as it will not only determine the growth trajectory for the country but also the course of monetary policy action by the RBI. We believe the new government will bring about radical changes in the bureaucracy that will revive construction activity and kick-start the investment-led growth cycle.

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