Indian paint makers gain on falling crude prices after West Asia ceasefire

JSW Dulux

08/04/2026 05:44

** Shares of major Indian paint makers rise between 1.4% and 6.5%

** Asian Paints ASPN.NS rises 5.1%, Berger Paints India BRGR.NS up 3.1%, Kansai Nerolac Paints KANE.NS climbs 5.2%, Akzo Nobel India AKZO.NS up 1.2%, and Indigo Paints INDG.NS rises 6.4%

** Benchmark Brent crude LCOc1 falls below $100/barrel after the U.S. announces a two-week ceasefire with Iran that was subject to immediate reopening of the Strait of Hormuz  O/R

** Falling crude prices are a positive for paint makers which count the commodity as a major raw material

** ASPN and BRGR almost fully recoups losses ever since the Iran war started, hitting their highest level in over one month

** KANE and INDG touches their highest in almost a month

** All five paint makers collectively lost ~65% in March, as escalating conflict in the Middle East and supply disruption concerns triggered wild swings in oil prices

** India stock benchmark Nifty 50 .NSEI jumps 3.3% to its highest since March 11

 (Reporting by Pranav Kashyap in Bengaluru)

 ((pranav.kashyap@tr.com; +919886482111;))