INDIGO, ASIAN PAINTS, APOLLO TYRES AND OMC STOCKS RALLY

INDIGO Shares of IndiGo, Asian Paints, Apollo Tyres and several oil marketing companies gained sharply on Wednesday as a nearly 25 percent decline in Brent crude oil prices over the past 10 days boosted investor sentiment towards aviation, paint and tyre companies. The gains came despite a modest recovery in global oil prices from two-month lows, following renewed concerns over potential shipping disruptions in the Strait of Hormuz. InterGlobe Aviation, the parent company of IndiGo, surged 4.61 percent in morning trade, emerging as the top gainer on the Nifty 50. Asian Paints advanced 2.18 percent, also featuring among the leading index gainers. In the tyre segment, Apollo Tyres climbed 3.12 percent, while CEAT gained 1.57 percent. Berger Paints rose 1.09 percent, whereas Kansai Nerolac Paints and JK Tyre advanced 0.55 percent and 0.52 percent, respectively. Oil marketing companies also witnessed buying interest. Hindustan Petroleum Corporation gained 2.77 percent, Bharat Petroleum Corporation rose 1.46 percent, and Indian Oil Corporation advanced 0.71 percent. Among upstream oil producers, Oil India declined 0.64 percent, while ONGC edged higher by 0.59 percent. SpiceJet also traded marginally higher, gaining 0.26 percent to Rs 7.70. The sharp correction in crude oil prices has improved the earnings outlook for industries that depend heavily on petroleum-based fuels and raw materials. For aviation companies such as IndiGo, aviation turbine fuel accounts for a significant portion of operating expenses. A sustained decline in crude prices could reduce fuel costs, improve operating margins and support profitability. Paint manufacturers, including Asian Paints, Berger Paints and Kansai Nerolac, could benefit from lower prices of petroleum-derived raw materials, solvents and other key inputs.