Sunil Subramaniam, a market expert, recently discussed the implications of rising crude oil prices and geopolitical tensions on Indian equities during an interview with ET Now. He noted that sustained high oil prices are creating uncertainty in the market, with concerns that they may cap the growth of Indian equities. Subramaniam explained the complexities surrounding the UAE's relationship with OPEC+, highlighting that while the UAE is expanding its oil capacity, political dynamics could weaken OPEC's overall influence. He projected that oil prices could stabilize between $70 to $85 in the medium term, which would significantly relieve India's fiscal deficit and enhance macroeconomic stability. In terms of the banking sector, he pointed out the resilience of lending, particularly in rural and auto sectors, despite potential short-term pressures on public sector banks. Furthermore, Subramaniam identified a promising opportunity in the pharmaceutical sector, particularly with semaglutide drugs, as they become more competitive in the market. Overall, while near-term volatility persists, the medium-term outlook appears more favorable for India's economy and specific sectors.