Hindustan Unilever, Asian Paints, Pidilite gain on lower crude oil prices

Nifty FMCG index, the second largest gainer among sectoral indices, was up 3.6 per cent, as compared to 1.4 per cent rise in the benchmark Nifty 50 index

Shares of Hindustan Unilever (HUL), Asian Paints, and Pidilite Industries rallied up to 8 per cent on the BSE on Tuesday after a significant drop in crude oil prices.

Oil prices fell below $30 a barrel on Monday as the worldwide coronavirus outbreak worsened over the weekend, exacerbating fears that government lockdowns to contain the spread of the disease would spark a global recession.

Pidilite Industries surged up to 8 per cent at Rs 1,592 and Asian Paints gained 5 per cent at Rs 1,765 on the BSE. These companies are the key potential beneficiaries of lower crude prices