Shares of six paint manufacturing companies rose by 0.14% to 1.92% amid easing crude oil prices.
Akzo Nobel India (up 1.92%), Asahi Songwon Colors (up 1.48%), Asian Paints (up 1.02%), Berger Paints India (up 0.54%) and Indigo Paints (up 0.14%) advanced.Meanwhile, the Nifty 50 index was up 196.16 points, or 0.34% at 57,341.38.
In the commodities market, Brent crude for November 2022 settlement was up $1.60, or 1.90% to $85.66 a barrel. The contract has slumped over 17% since end August 2022 on concerns that rising interest rates will dent economic activity and slow crude demand.
Lower crude oil decreases input costs for paint companies, which use crude derivatives as their raw material.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app