Paints, chemicals & aviation stocks rise as crude oil rates cool off
Paints, chemicals & aviation stocks rise as crude oil rates cool off
Shares of market leader Asian Paints rose 6.06% intraday to Rs 3,049.2 against the previous close of Rs 2,875 on BSE. The large cap stock opened with a gain of 5.32% at Rs 3028 on BSE.
Aseem Thapliyal
- Mar 10, 2022,
- Updated Mar 10, 2022 5:06 PM IST
Shares of paints, chemicals and aviation companies were trading in the green today after brent crude oil prices cooled off by 13.2%, their biggest daily decline in two years.
Crude oil and crude oil derivatives are key raw materials used in the paints, chemicals and aviation industries.
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Here's a look at stocks that majorly benefited from the fall in crude prices.
Paints stocks
Shares of market leader Asian Paints rose 6.06% intraday to Rs 3,049.2 against the previous close of Rs 2,875 on BSE. The large cap stock opened with a gain of 5.32% at Rs 3028 on BSE. Berger Paints shares climbed 6.22% intraday to Rs 698 against the previous close of Rs 657.15 on BSE. The large cap stock opened with a gain of 6.06% at Rs 697 on BSE.
Kansai Nerolac Paints stock too climbed 3.06% to Rs 459.15. The paints stock opened with a gain of 2.81% at Rs 458 today.
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Stock of the new entrant in the industry IndiGo Paints gained 11.83% intraday to Rs 1,712 on BSE today. It started 5.68% higher at Rs 1,618 in the current trading session.
Chemicals stocks
Shares of Deepak Nitrite surged 6.34% intraday to Rs 2100 against the previous close of Rs 1974.75. The large cap stock opened 6.34% higher today. Stock of another chemical maker NOCIL gained 8.44% to Rs 213.9 in today's trade. It opened 2.66% higher at Rs 202.50 on BSE.
Similarly, Alkyl Amines stock climbed 5.21% intraday to Rs 3,099.95 on BSE. It It opened 5.2% higher at Rs 3099.75 today.
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Aviation stocks
Shares of SpiceJet and InterGlobe Aviation rose up to 6.6% today amid a fall in brent crude oil price.
InterGlobe Aviation shares gained 6.6% intra day to Rs 1824.15 against the previous close of Rs 1,711 on BSE. The stock opened 4.26% higher at Rs 1,784 today. Similarly, shares of budget carrier SpiceJet gained up to 3.72% to Rs 62.70 on BSE. It opened at the same level in the current session.
Brent crude oil prices were trading at $115 per barrel, up 3.72%.
Global markets rallied after the price of US crude too fell 12%, easing fears the war might disrupt Russian supplies. Nikkei soared 4% and other Asian markets surged after oil prices dropped, easing fears inflation was set to accelerate.
On Wall Street, the S&P 500 rose to 4,277.88. The Dow Jones Industrial Average added 2% to 33,286.25 and the Nasdaq composite gained 3.6% to 13,255.55.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Shares of paints, chemicals and aviation companies were trading in the green today after brent crude oil prices cooled off by 13.2%, their biggest daily decline in two years.
Crude oil and crude oil derivatives are key raw materials used in the paints, chemicals and aviation industries.
Advertisement
Here's a look at stocks that majorly benefited from the fall in crude prices.
Paints stocks
Shares of market leader Asian Paints rose 6.06% intraday to Rs 3,049.2 against the previous close of Rs 2,875 on BSE. The large cap stock opened with a gain of 5.32% at Rs 3028 on BSE. Berger Paints shares climbed 6.22% intraday to Rs 698 against the previous close of Rs 657.15 on BSE. The large cap stock opened with a gain of 6.06% at Rs 697 on BSE.
Kansai Nerolac Paints stock too climbed 3.06% to Rs 459.15. The paints stock opened with a gain of 2.81% at Rs 458 today.
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Stock of the new entrant in the industry IndiGo Paints gained 11.83% intraday to Rs 1,712 on BSE today. It started 5.68% higher at Rs 1,618 in the current trading session.
Chemicals stocks
Shares of Deepak Nitrite surged 6.34% intraday to Rs 2100 against the previous close of Rs 1974.75. The large cap stock opened 6.34% higher today. Stock of another chemical maker NOCIL gained 8.44% to Rs 213.9 in today's trade. It opened 2.66% higher at Rs 202.50 on BSE.
Similarly, Alkyl Amines stock climbed 5.21% intraday to Rs 3,099.95 on BSE. It It opened 5.2% higher at Rs 3099.75 today.
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Aviation stocks
Shares of SpiceJet and InterGlobe Aviation rose up to 6.6% today amid a fall in brent crude oil price.
InterGlobe Aviation shares gained 6.6% intra day to Rs 1824.15 against the previous close of Rs 1,711 on BSE. The stock opened 4.26% higher at Rs 1,784 today. Similarly, shares of budget carrier SpiceJet gained up to 3.72% to Rs 62.70 on BSE. It opened at the same level in the current session.
Brent crude oil prices were trading at $115 per barrel, up 3.72%.
Global markets rallied after the price of US crude too fell 12%, easing fears the war might disrupt Russian supplies. Nikkei soared 4% and other Asian markets surged after oil prices dropped, easing fears inflation was set to accelerate.
On Wall Street, the S&P 500 rose to 4,277.88. The Dow Jones Industrial Average added 2% to 33,286.25 and the Nasdaq composite gained 3.6% to 13,255.55.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
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