Asian Paints, Berger Paints India, and Peers Decline Up to 3% Amid Crude Oil Price Surge

Paint Manufacturers Suffer Amid Rising Crude Oil Prices

Key Figures:

• $113: Current price of Brent crude oil
• 3.5%: Increase in US crude prices during early trading in Asia on March 19
• $99: Price of US crude, or West Texas Intermediate, on March 19
• 5%: Overnight surge in US natural gas prices
• 8.30%: One-month loss for Asian Paints
• 9.14%: One-month loss for Berger Paints
• 14.06%: One-month loss for Kansai Nerolac
• 5.39%: One-month loss for Akzo Nobel India
• 21.72%: One-month loss for Indigo Paints
• 7.51%: One-month loss for Sirca Paints India

Market Update

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The paint manufacturing sector has continued its downward trend this week, with shares of Asian Paints, Kansai Nerolac, Akzo Nobel, Indigo Paints, Berger Paints, and Shalimar Paints trading lower on March 19. The primary reason behind this decline is the rising price of crude oil, which has increased to $113 per barrel. The recent attacks on energy infrastructure in the Gulf region have intensified a conflict, leading to a sharp increase in crude oil prices.

Sector Performance

US crude prices have seen an increase of 3.5% during early trading in Asia on March 19, reaching $99 per barrel. Brent prices have also risen, approaching $113 per barrel. The sector heavyweight Asian Paints declined 3% today and is down 8.30% over the past month. Other paint manufacturers, including Berger Paints, Kansai Nerolac, Akzo Nobel India, Indigo Paints, and Sirca Paints India, have also experienced significant losses, with Indigo Paints being the worst performer, tumbling 2.3% today and 21.72% over the past month.