Market News
Stay updated with the latest market trends, earnings, and economic indicators.
IndiGo jumps 3%, HPCL gains 4%, tyre stocks rise 2-3% as falling crude oil prices lift oil-sensitive shares
With crude prices falling sharply and global markets rallying on hopes of a Middle East breakthrough, investors rotated into sectors that stand to benefit most from lower energy costs, making airlines, OMCs, tyre makers and paint companies the standout winners in early trade.
CEAT, BPCL, HPCL shares jump up to 4% as crude oil hits 4-month low; OMCs, tyre, airline stocks rally
Shares of oil marketing companies, tyre makers and other crude-linked businesses rallied on July 2 after global crude oil prices fell to a four-month low. CEAT, BPCL, HPCL, IOC, JK Tyre and other stocks gained as easing geopolitical tensions and softer oil prices lifted sentiment.
IndiGo among top Nifty losers; Asian Paints, IOCL, Apollo Tyres slump as crude surge hits paints, tyre stocks
The sharp fall in crude-sensitive counters comes as oil prices surged amid the widening conflict involving the United States, Israel and Iran. Paint companies' stocks were among the worst affected, while Tyre makers and OMCs were also weak. The selling pressure extended to aviation stocks as well.
HPCL jumps 4.5%, BPCL gains 3.7%; tyre and airline stocks rally as crude oil price falls below $100
The rally in crude-sensitive stocks today followed a steep overnight decline in oil prices, with Brent crude futures dropping below $100 a barrel to their lowest level in more than two weeks.