Paints stocks rally; Asian Paints rises 4%

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Most of the Paints stocks were trading in the green in the afternoon trade on Friday due to a fall in crude oil prices. A fall in crude price is helpful for the paint companies as it constitutes a major part of their expenses and raw material.

Shares of Shree Hari Chemicals Export (up 9.99 per cent), Adi Rasayan (up 4.94 per cent), Indokem (up 4.91 per cent), Asian Paints (up 3.81 per cent), Bodal Chemicals (up 3.42 per cent), Jaysynth Dyestuff (India) (up 2.99 per cent), Chromatic India (up 2.94 per cent), Berger Paints India (up 2.79 per cent), Kiri Industries (up 2.52 per cent) and Kansai Nerolac Paints (up 2.11 per cent) were among the top gainers.

Shalimar Paints (down 2.61 per cent), AksharChem (India) (down 2.41 per cent), YASHCHEM (down 2.26 per cent) and Amal (down 2.10 per cent) were trading in the red.

The NSE Nifty50 index was trading 10.30 points down at 10,588.1 at around 01:16 pm while the 30-share BSE Sensex was down 63.93 points at 35,173.75 at around the same time.

Hindustan Petroleum Corporation Ltd. (up 4.70 per cent), YES Bank Ltd. (up 3.91 per cent), Asian Paints Ltd. (up 3.80 per cent), Sun Pharmaceutical Industries Ltd. (up 3.07 per cent), Adani Ports & Special Economic Zone Ltd. (up 2.39 per cent), Bharat Petroleum Corporation Ltd. (up 2.34 per cent), Hero MotoCorp Ltd. (up 2.23 per cent), Indian Oil Corporation Ltd. (up 2.05 per cent), Maruti Suzuki India Ltd. (up 1.98 per cent) and Hindustan Unilever Ltd. (up 1.52 per cent) were among the top gainers in the Nifty pack.

Source: Economic Times