OMCs, paints, cement firms to benefit as oil crash rebuilds hopes

The escalating coronavirus fear and price war between oil producing countries led to a sharp 23% one-day fall in crude oil prices on Monday

The sharp fall in crude oil prices, concerns over impact of coronavirus on global economic activity, and the contagion effect of YES Bank crisis weighed on Indian equity markets on Monday. However, expectations of lower crude oil prices going ahead are likely to benefit some sectors/stocks, which is good news given the overall muted demand environment.

The escalating coronavirus fear and price war between oil producing countries led to a sharp 23 per cent one-day fall in crude oil prices on Monday, with Brent touching $34.9 per barrel. On Tuesday, oil prices rose by around 8 per cent as investors