Paints, chemicals & aviation stocks rise as crude oil rates cool off

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.

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.

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.

Share Market updates: Sensex rises 800 pts, Nifty ends above 16,550; HUL, Tata Steel, SBI top gainers

 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.