Markets this quarter

Only three sub-indices (IT, Healthcare and Consumer Durables) ended up on Sep 30th compared to where they were on July 1st. Metals lost over 25% while Capital Goods and PSUs lost over 14%. Easily one of the worst quarters for Indian markets since the excitement of a new government at the center in early 2014. Call it turmoil in China and the devaluation of the yuan or the Fed and the spectre of rate hikes or key legislation stalling in the Rajya Sabha, this quarter saw one of the steepest one-day fall in six years in the Indian stock market.

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