After falling for three consecutive months, the Indian market bounced back in June as uncertainty in the Euro zone receded post the Greek polls, new measures to bolster the region's
finances and a correction in crude oil prices. The Sensex and Nifty rose 7.5% and 7.2% respectively. The broader markets underperformed slightly, with the CNX Midcap Index gaining 6.6%. On the domestic front the news was mixed. On one hand, Industrial production, continued to be anaemic and rose just 0.1% y-o-y in April. On the other hand, a fall in crude prices and slowing gold imports bodes well for the fiscal and current account deficits.