Shares of oil marketing companies, aviation firms, paint manufacturers and tyre makers fell by around 1-5 percent on Thursday, as crude oil prices surged amid renewed concerns over supply disruptions in the Middle East. Hindustan Petroleum Corporation Ltd (HPCL), Bharat Petroleum Corporation Ltd (BPCL), IndiGo, Kansai Nerolac Paints and Asian Paints were among the prominent losers as Brent crude climbed above $102 a barrel.
HPCL shares declined 4.7 percent to Rs 327.2, while BPCL fell 4 percent to Rs 284.6. Indian Oil Corporation (IOC) slipped 2.8 percent to Rs 126.4. Aviation major InterGlobe Aviation (IndiGo) lost 3.6 percent to trade at Rs 4,812.8.
Paint stocks also came under selling pressure, with Kansai Nerolac Paints falling 4.8 percent to Rs 183.2, Asian Paints declining 1.4 percent to Rs 2,338.8 and JSW Dulux (Akzo Nobel India) down 1.3 percent at Rs 2,989. Berger Paints bucked the trend, rising 0.8 percent to Rs 467.8.
Among tyre manufacturers, CEAT fell 1.4 percent to Rs 3,254.9, Apollo Tyres declined 1.3 percent to Rs 402.3, JK Tyre slipped 1.1 percent to Rs 329.9 and MRF lost 0.6 percent to Rs 122,400. Upstream oil producers also traded lower despite the rise in crude prices. Oil India declined 1.6 percent to Rs 446.7, while ONGC fell 1 percent to Rs 219.8.
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