The markets managed to post gains in the quarter despite falling around 2 percent in June after the U.S. Fed said it plans to begin winding down its stimulus later this year if economic conditions are favourable.
In positive developments, monsoon rains arrived on time and covered the whole country two weeks ahead of schedule while inflation slipped below 5 percent. Sentiment was also boosted when rating agency Fitch revised its outlook on India back to “stable” from “negative”.
However, current account deficit concerns were exacerbated as rupee remained weak and fell below 60/dollar mark for the first time ever. Here are the top five gainers and losers of the June quarter:
Hindustan Unilever (HUL): India’s largest consumer goods maker emerged the best Sensex performer in the June quarter with gains of over 25.5 percent. Unilever, the parent company, said in April it will raise its stake in HUL to as much as 75 percent.