Paint inventories advance on falling crude prices

Shares of six paint companies rose 0.90% to 4.93% on lower crude oil prices.

Asian Paints (up 4.93%), Berger Paints India (up 2.88%), Kansai Nerolac Paints (up 3.05%), Akzo Nobel India (up 1.77%) and Shalimar Paints (up 0.90%) advanced.

In the commodities market, Brent crude for the April 2020 settlement fell 42 cents to $ 56.20 per barrel. The contract fell 71 cents, or 1.24%, to settle at $ 56.62 a barrel in the previous trading session.

Declining crude oil lowers input costs for paint companies, which use crude derivatives.

The Nifty 50 index gained 45.20 points or 0.39% to 11,707.05.

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(This story was not edited by Business Standard staff and is auto-generated from a syndicated feed.)

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