This is partly also because of the stretched valuations. Currently, India is the most expensive market within the emerging market pack. It is trading at close to 20 times its one-year forward earnings.
IndiGo, Indian Oil and other crude-sensitive stocks rally up to 4% as oil dips below $105/bbl. Where are prices headed?
Crude-sensitive stocks such as IndiGo, BPCL, HPCL and Indian Oil rallied up to 4% as oil prices declined for a second consecutive session amid US-Iran