ONGC and Oil India are best bets to play the rise in crude prices: Rahul Shah, MOFSL

Markets recovered from opening lows at half time and were seen trading at the high point of the day with the Sensex and Nifty up 0.25% on the back of gains seen in private banks and autos. Rahul Shah of Motilal Oswal Financial Services spoke to Money9 on what to expect from markets going forward.

“Expect markets to continue to perform keeping in mind that the macro factors are supportive like the GST collections increasing. Monsoons have been good supporting many sectors and we also are looking at a positive earnings season. However, the only overhang is that how the global markets pan out”, he said.

He believes that among the oil and gas stocks on the back of higher crude prices, one can look at ONGC and OIL India, as there can be more upside from current levels.

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