Indian paint stocks, including Asian Paints, Berger Paints, and Shalimar Paints, traded lower in Wednesday’s session (January 14), reflecting weak broader market momentum as crude oil prices extended gains to a fourth consecutive session.
Rising crude oil prices are a concern for India, which imports around 85% of its crude requirements. Sectors that rely on crude-based raw materials—such as the paint industry—are likely to be impacted, as higher prices increase input costs, compress gross margins, and weigh on profitability for paint manufacturers.
Against this backdrop, Asian Paints shares fell 2.1% to ₹2,826 apiece, while Indigo Paints declined 2% to ₹1,198. Shalimar Paints slipped 1% to ₹67.30, while Berger Paints (India) also traded lower, down 1.5% to ₹512.75 apiece.
Crude oil rally: Brent, WTI extend gains for fourth straight session
Both Brent and WTI crude futures finished Tuesday’s session higher by 2.5% and 2.77%, respectively, extending their winning streak to a fourth straight session, marking the biggest four-day gain since June, as tensions in Iran intensified.
Brent crude futures finished the session at $65.47 per barrel, while WTI crude futures closed at $61.50 per barrel, with both reaching levels last seen on November 11.
The sharp gains were triggered after US President Donald Trump said he had cancelled all meetings with Iranian officials until protester deaths had stopped.
Iran, one of the top producers in the Organization of the Petroleum Exporting Countries (OPEC), is facing its biggest anti-government demonstrations in years. A government crackdown on protesters, which an Iranian official said has killed about 2,000 people and led to the arrest of thousands more, drew a warning from President Trump of possible military action, Reuters reported.
Earlier this week, Trump said that any country doing business with Iran would be subjected to a 25% tariff on any trade conducted with the United States. China is the largest buyer of Iranian crude.
While there has been no official documentation on these additional tariffs yet, the announcement suggests they would apply to all countries conducting trade with Iran, unlike the tariffs imposed on specific countries for importing oil from Russia.
Meanwhile, crude oil prices cooled slightly in today’s session (January 14), with both Brent and WTI trading lower, each slipping around 0.7% and 0.4%, respectively, as Venezuela resumed oil exports.
Two supertankers carrying about 1.8 million barrels each departed Venezuelan waters, likely marking the first shipments under a 50-million-barrel supply deal with the US, according to media reports.
Earlier, Trump said he would control Venezuela’s oil reserves and that the money raised from oil exports would benefit the people of Venezuela and the United States.
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