Rising global energy prices likely to turn the heat on Indian markets

Many will bear the brunt, except crude & gas producers and renewable firms

One of the consequences of increasing activity in the global economy is the rising demand for energy. The Indian crude basket has risen in price from $54 a barrel in January to $65 in May. We have also seen the impact at the retail level as prices at the pump have risen. Side by side, the price of gas has also gone, resulting in the increased cost of cooking gas cylinders, etc.

In a note to clients, investment bank Goldman Sachs projected global oil demand would see the biggest jump ever over the next six months. Higher demand for travel and