Analysts forecast the fuel at $85 a barrel in 2015 and $90 a barrel in 2016; politics, demand-supply to pressure crude.
To those who ask, "Is all this really worth it? Why can't domestic demand fill the gap?", it is important to remind them that only 13 economies since the Second World War have grown at 7 per cent or more for 25 years -- like India needs to. They all had one thing in common: Strong export growth underpinned by strong global engagement, explains Sajjid Z Chinoy.
'2019 was fought on delivery. But in 2024, you can see the before and after effects.'
The medium-term scenario for oil marketing companies (OMCs) is high risk due to the surging crude and gas prices. Apart from OPEC-plus cutting production, the Hamas-Israel conflict has caused fears of supply disruption. The July-September quarter of 2023-24 (Q2FY24) saw positive surprises for OMCs. Strong gross refining margins (GRMs) more than offset weak marketing margins.
The S&P BSE Sensex ended up 129 points at 26,843 and the Nifty50 ended up 39 points at 8,220.
Top gainers from the Sensex pack are Infosys, Cipla, NTPC, ITC and Lupin
Sun Pharma was the top gainer after SPARC received Sebi nod to raise up to Rs.250 crore through a rights issue
For the week, the battered rupee gained 26 paise against the greenback
HSBC maintained "overweight" rating on Indian equities, saying "fundamentals are strong".
The NSE Nifty ended 89.40 points, or 0.83 per cent, lower at 10,710.45.
The rupee had dropped by 18 paise to end at 66.40
Investors indulged in profit booking at attractive and higher valuations
The local markets are expected to react to global triggers until the government announces the Union Budget.
The rally in index heavyweight ITC has boosted the sentiment across the board.
In the broader markets, BSE Midcap index slipped 0.3% whereas the BSE Smallcap index inched up by 0.2%
Index heavyweights Reliance Industries, HDFC and Infosys were the top Sensex gainers.
In the broader market, BSE midcap and BSE smallcap indices underperformed the larger counterparts and ended flat with a negative bias.
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