On oil price increase to as much as 4% after Iran retaliated with attack on Iraq base hosting US troops, shares in paint companies were dragged lower by up to 3%.
Asian Paints traded and fell 1.7% intraday. Berger Paints shares were also down and fell more than 2%. Also, Nerolac and Repro India fell upto 2.5% each.
Meanwhile, Indian indices following Asian peers were trading low with Sensex sliding as much as 250 points while Nifty was below 12000 points.