Asian Paints, Berger Paints, Kansai Nerolac shares shine as crude oil prices ease

Paint stocks were trading in the positive territory on Wednesday amid the bearish market as crude oil prices declined significantly.

Crude oil is a key raw material in manufacturing paints, thereby impacting the sector.

Shares of Berger Paints are trading at ₹538 per unit, reflecting an increase of 0.46%.

Stocks of tyre makers such as MRF and Apollo Tyres rose 0.46% and 0.88%, respectively.

Brent crude declined 3.25% to $60.79, while West Texas Intermediate (WTI) slipped 3.58% to $57.48.

On the Multi Commodity Exchange, crude oil for May delivery traded lower by ₹186 or 3.59% at ₹4,997 per barrel due to participants selling their holdings amid weak global cues.

This comes after the latest round of tariffs by US President Donald Trump went into effect. He has imposed a levy of 26% on India, 25% on South Korea, 24% on Japan, 20% on the European Union, and 10% on the United Kingdom.

The US had announced a 34% tariff on China, which was increased to 84% after a retaliatory tariff from Beijing. With an existing 20% levy on China, the total tariff has increased to 104%.

Here's how Indian markets are performing on April 9

The benchmark equity indices descended on Wednesday, with the SENSEX dropping 374 points to 73,852 and the NIFTY plunging 130 points to 22,405.

From the NIFTY firms, Wipro, L&T, State Bank of India, Trent, Tech Mahindra, Tata Steel, Infosys, Shriram Finance, and ONGC were among the biggest laggards.

Nestle India, Hindustan Unilever, Tata Consumer Products, Titan, Hero MotoCorp, Power Grid, and Apollo Hospital were among the gainers.