27 Mar , 2026 By : Debdeep Gupta
Crude-sensitive shares such as InterGlobe Aviation, Asian Paints and Eternal declined up to 3 percent in trade on Friday as Brent crude remained above the USD 100 per barrel mark, raising concerns over higher input costs and inflationary pressures.
Shares of InterGlobe Aviation fell 3.5 percent to Rs 4,144.5 per share on the National Stock Exchange, while SpiceJet declined 4.5 percent.
Tyre stocks also witnessed losses, with JK Tyre & Industries slipping 2 percent and Apollo Tyres falling nearly 2 percent amid concerns over rising raw material and fuel costs.
Paint companies came under pressure, with Asian Paints declining over 1 percent. Berger Paints India and Akzo Nobel India fell between 1 percent and 2 percent.
Brent crude, the global oil benchmark, was trading at USD 106.8 per barrel.
"Crude oil prices have once again moved above the USD 100 per barrel mark, reinforcing inflationary concerns globally. For India, this is particularly significant given its heavy reliance on crude imports," Hariprasad K, Research Analyst and Founder, Livelong Wealth, said.
He added that Brent crude prices remain elevated and volatile, hovering in the USD 100–107 range, raising concerns around inflation, input costs and broader macroeconomic pressures.
Meanwhile, the Sensex was down 1,224.07 points or 1.63 percent at 74,049.38, and the Nifty was down 360.80 points or 1.55 percent at 22,945.65, as hopes of a resolution to the Iran conflict weakened. The Nifty slipped below the 22,950 level.
"The US-Iran conflict continues to be a key overhang. While there are intermittent signs of de-escalation, the risk of renewed escalation persists, keeping markets highly sensitive to geopolitical developments," Ponmudi R, CEO of Enrich Money, said.
Market volatility rose sharply, with India VIX jumping 8 percent, indicating heightened investor nervousness. Analysts said that if crude prices remain elevated for an extended period, sectors dependent on fuel and petrochemical inputs may remain under pressure, while broader markets could stay volatile.
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