Akzo Nobel India shares surged by nearly 7% as paint stocks rallied, driven by a 2.5% drop in crude oil prices overnight. The decline in oil prices followed OPEC’s decision to revise world demand estimates downward, projecting an increase of +1.93 million barrels per day (mbpd) for 2024 and +1.65 mbpd for 2025. This reduction in demand has alleviated concerns over rising input costs for the paint industry, providing a boost to key stocks.
As of 9:50 AM, Akzo Nobel India shares were trading 6.52% higher at ₹4,335.00 on the NSE.
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