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.
Energy, telecom continue to draw foreign flows in Nov
Foreign investors injected significant capital into India’s energy and telecom sectors in the latter half of November, continuing a trend from earlier in the month