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Top brokerage calls for September 16: Jefferies bullish on Oil India, ONGC post Saudi drone attack

Updated : 2019-09-16 08:15:00

Indian shares are set to open lower on Monday after crude oil prices surged following the drone attacks in Saudi Aramco, the largest oil producer in the world. The weekend attacks on Saudi Arabia’s crude facilities knocked out more than 5 percent of global oil supply. However, moves in Asian share markets were small, with Japan shut for a public holiday. Among brokerages, Jefferies is bullish on ONGC and oil India post the Saudi attack. Here are the top brokerage calls for Monday:

<strong>Jefferies on oil:</strong> Drone attacks on key Saudi's oil infra have taken over 5 percent of global oil, the brokerage said. In India, ONGC and Oil India will benefit but the OMCs may suffer, it added. The brokerage continues to like IOC, Petronet LNG, and GAIL.
Jefferies on oil: Drone attacks on key Saudi's oil infra have taken over 5 percent of global oil, the brokerage said. In India, ONGC and Oil India will benefit but the OMCs may suffer, it added. The brokerage continues to like IOC, Petronet LNG, and GAIL.
<strong>Credit Suisse on Oil:</strong> Even before Saudi’s supply disruption, global oil markets were poised for a tighter second half of 2019, the brokerage said, adding that they believe improved fundamentals should trigger re-rating as expectations are low.
Credit Suisse on Oil: Even before Saudi’s supply disruption, global oil markets were poised for a tighter second half of 2019, the brokerage said, adding that they believe improved fundamentals should trigger re-rating as expectations are low.
<strong>CLSA on India Strategy:</strong> Government’s follow-up measures are unlikely to give a big economic push, the brokerage said, adding that demand improvement measures for real estate are lacking which is disappointing.
CLSA on India Strategy: Government’s follow-up measures are unlikely to give a big economic push, the brokerage said, adding that demand improvement measures for real estate are lacking which is disappointing.
<strong>Morgan Stanley on the economy:</strong> Government continues to focus on exports and housing, which according to the brokerage is a step in the right direction. It added that the government needs to focus on increasing competitiveness in the domestic exports industry.
Morgan Stanley on the economy: Government continues to focus on exports and housing, which according to the brokerage is a step in the right direction. It added that the government needs to focus on increasing competitiveness in the domestic exports industry.
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