According to Nadia Elbilassy of the Equiti Group, oil prices have been under pressure due to already factored-in production cuts and increased US oil production. Weak manufacturing data from China and a softening US economy have also contributed to the decline. The energy sector, including Indian companies, is expected to continue facing challenges until October.
Long-term investors should focus on structural trends over short-term volatility: Ravi Dharamshi
So, from the peak to correct around 15% kinds is I would say, but beyond that I would say then they start looking attractive again
October 30, 2024