Oil prices dropped over 2% on Monday, erasing last week’s gains, after OPEC once again lowered its global oil demand growth forecast for 2024 and 2025. Additionally, China’s oil imports declined for the fifth consecutive month, and the country’s stimulus measures failed to boost investor confidence. Meanwhile, markets remained cautious about potential Israeli attacks on Iranian oil infrastructure. In India, the crude oil-driven momentum in the stock market has benefited certain sectors. Dharmesh Kant, Head of Equity Research at Chola Securities, identifies two clear winners: oil marketing companies (OMCs) and the aviation sector. He highlights InterGlobe Aviation as a strong buy, along with HPCL and BPCL among OMCs, while avoiding paint stocks.