Information Technology, Oil and gas, telecommunications and power saw the most inflows from foreign institutional investors between 15 and 31 January 2024. Financial services, fast-moving consumer goods ( FMCG), services, metals and mining and consumer durables witnessed outflows, as per data analysed by YES Securities.
“The rally in Indian Oil & Gas PSU is based on many favourable factors that have gotten even better: 1) Oil price in a range of $74-84/bbl despite disruptions and OPEC+ cuts 2) No govt intervention on any policy impacting the sector at large, no fuel retail price cut announcements; 3) Higher global petroleum product demand given the shortage, which keeps cracks on the higher side,
