Other paint stocks too gained in early trade. While Berger Paints gained 5.30% to 325 level, Shalimar Paints rose 2.56% to 88.20. Kansai Nerolac Paints too rallied 4.85% to 421.25 level on the BSE. Crude oil is a key raw material in the production of paints.

Brent crude, used to price international oils, dropped 30 percent to $65.17 a barrel. Oil has now fallen for 12 straight days, driven by worries over rising oil production around the world and weakening demand from developing countries, with expectations for increased supply from the US and OPEC.

On Monday, the airline reported its third consecutive quarterly loss at Rs 1,261 crore in three months to September.

At the moment most experts are in a wait and watch mode, while some players from these sectors think that it could be a mixed bag.

Brent crude prices were trading at $68.15 per barrel, down 2.08% from their previous close. Benchmark US crude fell 78 cents to $59.15 per barrel in electronic trading on the New York Mercantile Exchange. The contract sank 26 cents on Monday to $59.93.

However, most Asian markets ended lower after a rout in tech stocks, tracking a hefty sell-off on Wall Street, while the dollar hit a 16-month peak on safe haven bets amid China-US trade war worries.

The number of Indian visitors travelling to the Gulf Cooperation Council nations over the coming five years will create an extra 10.8 million room nights.

Xiaomi has now raised prices of Redmi 6 and 6A by up to Rs 600.

Tata Motors (4.84%), Hero MotoCorp (3.82%) and PowerGrid 2.87% were the top Sensex losers. Of 30 Sensex stocks, 25 closed lower.