Paint stocks surge up to 5% on sharp decline in crude oil prices
The decrease in crude oil prices led to a jump in the stock prices of Indigo Paints and Kansai Nerolac Paints, which rose 5% and 2% respectively. Berger Paints, Akzo Nobel India, and Asian Paints also rallied between 1-2%.
Major paint stocks experienced a surge of 2–5% in today's trading session, responding to a significant decline in crude oil prices. In the previous trading session (Thursday), Brent crude futures saw a sharp correction, plummeting by 4.63% to reach $77.42 a barrel, while WTI crude futures also witnessed a notable drop of 4.91% to $72.9 a barrel.
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