Oil Marketing, Paint Stocks Plunge Amid Rising Crude Prices, West Asia Conflict
Oil Marketing, Paint Stocks Plunge Amid Rising Crude Prices, West Asia Conflict
- •Shares of oil marketing companies and paint manufacturers declined on Monday.
- •The decline was driven by a weak trend in equities and rising crude oil prices due to West Asia conflict.
- •Indian Oil Corporation, Hindustan Petroleum Corporation Ltd, and Bharat Petroleum Corporation Ltd saw significant drops.
- •Paint companies like Kansai Nerolac Paints, Asian Paints, and Shalimar Paints also experienced declines.
- •Brent crude jumped 8.25 percent to USD 78.92 per barrel, raising input cost concerns.
