Paint makers climb as crude prices ease

27 Sep 2022 , 02:22 PM

Akzo Nobel India (up 1.92%), Asahi Songwon Colors (up 1.48%), Asian Paints (up 1.02%), Berger Paints India (up 0.54%) and Indigo Paints (up 0.14%) advanced. Meanwhile, the Nifty 50 index was up 196.16 points, or 0.34% at 57,341.38. In the commodities market, Brent crude for November 2022 settlement was up $1.60, or 1.90% to $85.66 a barrel. The contract has slumped over 17% since end August 2022 on concerns that rising interest rates will dent economic activity and slow crude demand. Lower crude oil decreases input costs for paint companies, which use crude derivatives as their raw material. Powered by Capital Market – Live News