Paint and tyre stocks slide up to 6% as crude oil prices soar on Middle East tension

Berger Paints dropped 6% to Rs 582.8, while Asian Paints fell 4.4%. Kansai Nerolac, Akzo Nobel, and Indigo Paints also saw declines of up to 3%. Similarly, tyre stocks like Apollo Tyres, Balkrishna Industries, Ceat, Goodyear, JK Tyre, and MRF plunged by up to 4%. The fall in paint and tyre stocks is attributed to rising crude oil prices, as both sectors heavily depend on petroleum-based raw materials. Berger Paints dropped 6% to Rs 582.8, while Asian Paints fell 4.4%. Kansai Nerolac, Akzo Nobel, and Indigo Paints also saw declines of up to 3%. Similarly, tyre stocks like Apollo Tyres, Balkrishna Industries, Ceat, Goodyear, JK Tyre, and MRF plunged by up to 4%. The fall in paint and tyre stocks is attributed to rising crude oil prices, as both sectors heavily depend on petroleum-based raw materials.  Economic Times