Oil Stocks Outlook For The Week - 26 to 30.11.2018
Stocks of public sector refiners-Indian Oil Corp Ltd, Bharat petroleum Corp Ltd, and Hindustan Petroleum Corp Ltd--are expected to consolidate next week, with an underlying positive bias. Share prices of state-owned upstream companies Oil and Natural Gas Corp Ltd and Oil India Ltd are also seen consolidating, though these are are on a weaker footing than stocks of downstream companies. In terms of fundamentals, the movement in international prices of crude oil would continue to dictate the trend for shares of oil companies, both upstream and downstream. Low crude oil prices are positive for refiners and negative for oil and gas producers. Futures contracts of crude oil are likely to trade lower next week, as latest data showed a rise in inventories in the US to their highest levels since December. The rise in the inventories is in line with the prevalent fears of a glut. Similar factors saw crude prices fall over 8% in domestic and international exchanges this week. The US has surpassed Russia and Saudi Arabia, which are also pumping oil at record high levels. Another negative is fear of an economic slowdown, which has gripped equity markets and led to concern about lower demand for crude oil in the near term. The dollar-rupee exchange rate may also influence stocks of oil companies. A weaker rupee is a negative for refiners and a positive for upstream players.
Source : Cogencis Information Services Ltd.
Free Stock Options :Register To Get 2 days Trial Tips
Equity Cash/Futures/Options Segment
Register for Daily Rs 2000/- Profit in Stock Options
Click Here : Free Nifty Intraday Chart Live
Today Nifty Stocks Support and Resistance Level
Today Free Nifty Option Tips
Today Free Banknifty Option Tips
Today Free Stock Option Tips
This Week - Weekly Sector Report
Live Hourly Stock and Nifty Trend
Click Here : Free Nifty Intraday Chart Live
Today Nifty Stocks Support and Resistance Level
Today Free Nifty Option Tips
Today Free Banknifty Option Tips
Today Free Stock Option Tips
This Week - Weekly Sector Report
Live Hourly Stock and Nifty Trend
Stocks of public sector refiners-Indian Oil Corp Ltd, Bharat petroleum Corp Ltd, and Hindustan Petroleum Corp Ltd--are expected to consolidate next week, with an underlying positive bias. Share prices of state-owned upstream companies Oil and Natural Gas Corp Ltd and Oil India Ltd are also seen consolidating, though these are are on a weaker footing than stocks of downstream companies. In terms of fundamentals, the movement in international prices of crude oil would continue to dictate the trend for shares of oil companies, both upstream and downstream. Low crude oil prices are positive for refiners and negative for oil and gas producers. Futures contracts of crude oil are likely to trade lower next week, as latest data showed a rise in inventories in the US to their highest levels since December. The rise in the inventories is in line with the prevalent fears of a glut. Similar factors saw crude prices fall over 8% in domestic and international exchanges this week. The US has surpassed Russia and Saudi Arabia, which are also pumping oil at record high levels. Another negative is fear of an economic slowdown, which has gripped equity markets and led to concern about lower demand for crude oil in the near term. The dollar-rupee exchange rate may also influence stocks of oil companies. A weaker rupee is a negative for refiners and a positive for upstream players.
Source : Cogencis Information Services Ltd.
Free Stock Options :Register To Get 2 days Trial Tips
Free Intraday Tips : Join Our Whatsapp No : 9841986753
Free Commodity Tips : Join our Whatsapp No : 9094047040
