Stocks Plunge: OMC, Metal, Fertiliser Shares Fall as Iran War Threat Escalates
MMoneycontrol•02-04-2026, 16:39
Stocks Plunge: OMC, Metal, Fertiliser Shares Fall as Iran War Threat Escalates
- •Fertiliser, metal, and oil marketing companies (OMCs) saw shares decline up to 4% due to heightened geopolitical tensions in West Asia.
- •Crude oil prices surged 7% to $107.29 per barrel, impacting OMCs and raising concerns about refining and marketing margins.
- •Higher oil prices negatively affect India, potentially widening the fiscal deficit, stoking inflation, and weighing on growth.
- •Metal stocks like APL Apollo Tubes and Hindustan Copper fell amid fears of supply disruptions and an oil shock impacting global demand.
- •Fertiliser and paint stocks also faced pressure from rising energy costs and raw material prices, while tyre companies saw declines due to crude-based inputs and increased logistics costs.
