<p>New Delhi: Shares of oil marketing companies and paint manufacturers tumbled on Monday morning trade amid sharp jump in crude oil prices due to the deepening conflict in West Asia.</p>.<p>Hindustan Petroleum Corporation Ltd tanked 8.67 per cent, Bharat Petroleum Corporation Ltd dropped 8.43 per cent and Indian Oil Corporation declined 7.29 per cent on the BSE.</p>.<p>Brent crude, the global oil benchmark, surged 24.71 per cent to USD 112.51 per barrel.</p>.<p>Asian Paints fell by 5.12 per cent, Indigo Paints dropped 4.83 per cent, Berger Paints lost 4.80 per cent and Kansai Nerolac Paints declined 4.72 per cent.</p>.Asian markets fall after crude surge, Japan's Nikkei and South Korea's KOSPI tank 7%.<p>The 30-share BSE Sensex crashed 2,494.35 points or 3.16 per cent to 76,424.55. The 50-share NSE Nifty tumbled 752.65 points or 3 per cent to 23,697.80.</p>.<p>"Near-term sentiment remains pressured by escalating tensions in the Middle East, which have kept crude oil prices elevated and intensified concerns over inflation risks and India’s rising import bill.</p>.<p>"The sustained surge in energy prices is also reviving fears of macroeconomic strain, adding another layer of caution to market positioning," Ponmudi R, CEO of Enrich Money, a line trading and wealth tech firm said.</p>.<p>The US and Israel launched military strikes on Iran on February 28, killing Ayatollah Ali Khamenei, Iran's supreme leader.</p>.<p>Following the military offensive, Iran has carried out a wave of attacks mainly targeting Israeli and American military bases in several Gulf countries, including the UAE, Bahrain, Kuwait, Jordan, and Saudi Arabia. </p>
<p>New Delhi: Shares of oil marketing companies and paint manufacturers tumbled on Monday morning trade amid sharp jump in crude oil prices due to the deepening conflict in West Asia.</p>.<p>Hindustan Petroleum Corporation Ltd tanked 8.67 per cent, Bharat Petroleum Corporation Ltd dropped 8.43 per cent and Indian Oil Corporation declined 7.29 per cent on the BSE.</p>.<p>Brent crude, the global oil benchmark, surged 24.71 per cent to USD 112.51 per barrel.</p>.<p>Asian Paints fell by 5.12 per cent, Indigo Paints dropped 4.83 per cent, Berger Paints lost 4.80 per cent and Kansai Nerolac Paints declined 4.72 per cent.</p>.Asian markets fall after crude surge, Japan's Nikkei and South Korea's KOSPI tank 7%.<p>The 30-share BSE Sensex crashed 2,494.35 points or 3.16 per cent to 76,424.55. The 50-share NSE Nifty tumbled 752.65 points or 3 per cent to 23,697.80.</p>.<p>"Near-term sentiment remains pressured by escalating tensions in the Middle East, which have kept crude oil prices elevated and intensified concerns over inflation risks and India’s rising import bill.</p>.<p>"The sustained surge in energy prices is also reviving fears of macroeconomic strain, adding another layer of caution to market positioning," Ponmudi R, CEO of Enrich Money, a line trading and wealth tech firm said.</p>.<p>The US and Israel launched military strikes on Iran on February 28, killing Ayatollah Ali Khamenei, Iran's supreme leader.</p>.<p>Following the military offensive, Iran has carried out a wave of attacks mainly targeting Israeli and American military bases in several Gulf countries, including the UAE, Bahrain, Kuwait, Jordan, and Saudi Arabia. </p>