Mon, 27 Jul 2026
12:46:42 pm
Rudransh Sangwan
Published at: July 27, 2026, 8:17 AM
Synopsis
Crude sensitive stocks surged after Brent crude fell below $91 per barrel. Eternal, Asian Paints, JK Tyre, BPCL, HPCL, Indian Oil and other stocks gained as lower oil prices boosted sentiment and improved margin expectations across multiple sectors.

A sharp decline in global crude oil prices triggered broad based buying across several Indian sectors on Monday, lifting shares of companies that benefit from lower energy and raw material costs. Food delivery platforms, oil marketing companies, paint manufacturers and tyre makers witnessed strong gains after Brent crude dropped nearly 5% to below $91 per barrel, improving sentiment across the market.
The fall in crude prices came after easing geopolitical tensions in West Asia, raising expectations of lower inflation, improved corporate margins and reduced input costs for crude dependent businesses. As a result, stocks including Eternal, Swiggy, Asian Paints, Kansai Nerolac, JK Tyre, BPCL, HPCL, Indian Oil, CEAT and Apollo Tyres moved higher during the session.
Brent crude, the global benchmark for oil prices, declined around 5% to below $91 per barrel after reports indicated easing tensions in West Asia. The decline followed Iran's statement that it would halt attacks as long as the United States also refrained from military action.
Lower crude prices are generally positive for India, which imports the majority of its crude oil requirements. Falling oil prices help reduce inflation, improve the country's current account balance and lower costs for businesses that rely on petroleum based raw materials or transportation.
Oil marketing companies were among the biggest beneficiaries of the decline in crude prices, as lower input costs can improve refining margins and profitability.
| Company | Intraday Gain |
|---|---|
| BPCL | More than 2% |
| HPCL | Nearly 3% |
| Indian Oil Corporation | Around 2% |
These companies refine crude oil into petroleum products, making lower crude prices favourable for their operating margins.
Food delivery companies also witnessed strong buying interest as lower fuel prices are expected to reduce delivery and logistics expenses.
| Company | Move |
|---|---|
| Eternal | More than 5% |
| Swiggy | More than 5% |
Lower transportation costs could support profitability as delivery expenses form an important part of operating costs for online food delivery businesses.
Paint manufacturers also traded higher because crude oil is a key raw material for petrochemical products used in paint production.
| Company | Intraday Gain |
|---|---|
| Asian Paints | 2.8% |
| Kansai Nerolac | Up to 6% |
Lower petrochemical input costs can improve margins if companies are able to maintain product pricing.
Tyre manufacturers also gained as synthetic rubber and several other inputs are derived from crude oil.
| Company | Intraday Gain |
|---|---|
| JK Tyre | Around 2% |
| CEAT | Up to 1% |
| Apollo Tyres | Up to 1% |
Besides cheaper raw materials, lower fuel prices can also reduce logistics and transportation expenses across the supply chain.
According to Rajesh Palviya, Head of Research at Axis Direct, market sentiment improved significantly after geopolitical tensions eased over the weekend. He said lower crude prices could benefit India through reduced inflation expectations, an improved current account outlook and lower pressure on the rupee.
VK Vijayakumar, Chief Investment Strategist at Geojit Investments, said the sharp correction in Brent crude from around $102 to below $91 per barrel provides positive sentiment for Indian equities. He added that if geopolitical tensions continue to ease and crude prices remain lower, the market could continue to witness supportive momentum.
India is the world's third largest importer of crude oil, making global oil prices a key economic indicator.
Lower crude prices generally benefit the economy by:
Sectors such as oil marketing, aviation, paints, tyres, logistics, chemicals and food delivery typically benefit the most from sustained declines in crude oil prices.
| Sector | Stocks | Reason for Benefit |
|---|---|---|
| Oil Marketing | BPCL, HPCL, Indian Oil | Lower crude procurement costs improve refining margins |
| Food Delivery | Eternal, Swiggy | Lower delivery and logistics expenses |
| Paints | Asian Paints, Kansai Nerolac | Reduced petrochemical raw material costs |
| Tyres | JK Tyre, CEAT, Apollo Tyres | Lower synthetic rubber and transportation costs |
The sharp decline in Brent crude below $91 per barrel boosted investor sentiment across multiple sectors that are directly influenced by energy and petrochemical costs. Stocks such as Eternal, Swiggy, Asian Paints, Kansai Nerolac, JK Tyre, BPCL, HPCL and Indian Oil gained as investors anticipated improved margins and lower operating expenses.
Going forward, market participants will closely monitor global crude oil prices and geopolitical developments, as sustained lower oil prices could continue to support earnings for crude sensitive sectors while also benefiting the broader Indian economy.
Crude sensitive stocks gained after Brent crude fell nearly 5% to below $91 per barrel, improving the outlook for companies that benefit from lower fuel and raw material costs.
Eternal, Swiggy, Kansai Nerolac, Asian Paints, JK Tyre, BPCL, HPCL and Indian Oil were among the notable gainers.
Paint manufacturers use petrochemical based raw materials derived from crude oil. Lower crude prices reduce production costs and can improve profit margins.
Tyre makers use synthetic rubber and other petroleum based materials. Lower crude prices reduce raw material costs and logistics expenses.
India imports most of its crude oil. Lower prices help reduce inflation, improve the current account balance, ease pressure on the rupee and support corporate profitability.

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