Shares of five paint makers rose by 0.02% to 2.46% at 14:45 IST on BSE as crude oil prices fell.
Berger Paints (up 2.15%), Shalimar Paints (up 2.23%), Akzo Nobel India (up 0.55%) and Kansai Nerolac Paints (up 0.02%) edged higher.
Shares of sector bellwether Asian Paints rose 1.21% to Rs 712.30. The stock hit a record high of Rs 717.55 in intraday trade today, 27 November 2014.
Meanwhile, the S&P BSE Sensex was up 4.05 points or 0.01 % at 28,390.24
Brent crude oil futures hit four-year low amid speculation that OPEC will refrain from cutting output when ministers meet in Vienna today, 27 November 2014. Brent for January settlement was off $1.20 a barrel at $76.55 a barrel. The contract hit a low $76.28 a barrel in intraday trade, its lowest level since September 2010. Brent for January settlement had fallen 58 cents a barrel to finish at $77.75 a barrel during the previous trading session.
Falling crude oil prices augur well for paints makers. Titanium dioxide is a key raw material for paint companies and is derived from crude oil.
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