On Thursday, October 8, 2026, shares of Indian oil marketing companies, airlines, paint makers and tyre manufacturers fell roughly 1% to 5%, as Brent crude climbed above $102 a barrel. The steepest declines reported that session were HPCL (down 4.7%), Kansai Nerolac Paints (down 4.8%), BPCL (down 4%) and IndiGo (down 3.6%). The headline’s “up to 5%” is rounded; the largest single decline in the reported figures is 4.8%. Berger Paints was the one cited paint stock that rose.
The figures below come from a Moneycontrol market report covering that session. They are one-day snapshots, not live quotes, and they were not checked against exchange data for this article.
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Which oil-sensitive stocks fell, and by how much
The report grouped the decliners by sector. Oil marketing companies, which buy crude and sell refined fuel at prices set partly by the government, were hit hardest. Airlines and paint makers also fell sharply, while tyre makers slipped modestly. The table lists each named stock with the price and move reported for the session.
| Company | Sector | Reported move | Reported price (₹) |
|---|---|---|---|
| Kansai Nerolac Paints | Paints | Down 4.8% | 183.2 |
| HPCL (Hindustan Petroleum) | Oil marketing | Down 4.7% | 327.2 |
| BPCL (Bharat Petroleum) | Oil marketing | Down 4% | 284.6 |
| IndiGo | Airline | Down 3.6% | 4,812.8 |
| Indian Oil Corporation | Oil marketing | Down 2.8% | 126.4 |
| Asian Paints | Paints | Down 1.4% | 2,338.8 |
| JSW Dulux (Akzo Nobel India) | Paints | Down 1.3% | 2,989.0 |
| CEAT | Tyres | Down 1.4% | Not stated |
| Apollo Tyres | Tyres | Down 1.3% | Not stated |
| JK Tyre | Tyres | Down 1.1% | Not stated |
| MRF | Tyres | Down 0.6% | Not stated |
| Berger Paints | Paints | Up 0.8% | 467.8 |
The report gives prices only for the stocks shown above. For CEAT, Apollo Tyres, JK Tyre and MRF it lists percentage moves without a quoted price, so the table marks those cells as not stated. Oil India and ONGC, the upstream producers, also fell, but the report gives no percentage for them.
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What the report says moved crude
According to the same report, Brent crude futures rose $2.28 (2.28%) to $102.28 a barrel, and US WTI crude futures rose $1.66 (1.88%) to $89.94, both by 0427 GMT that Thursday. Those are the figures as the report states them, not a live benchmark reading.
The report links the rise to two supply concerns. The first is increased attacks on shipping in the Gulf and the Strait of Hormuz, which it presents as renewed Middle East supply risk. The second is hurricane-related threats to US offshore oil facilities. The report also says crude had settled lower the previous day after the International Energy Agency agreed to speed up a release of oil stocks and prioritise diesel supplies under a plan launched in March.
This article has not independently confirmed those geopolitical developments or the terms of the IEA plan. They are reported as the news account’s description of the market backdrop.
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The broader market selloff
The sector moves did not happen in isolation. At 12:35 pm, the same report had the Sensex down 850 points (1.2%) at 71,788.5 and the Nifty 50 down 303 points at 22,300. The Nifty Energy index was down 2.3% and the Nifty Oil & Gas index was down 2.1%. The report also cited declines across Asian markets, along with concerns about sovereign bond markets and borrowing by technology companies.
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That context matters for reading the stock moves. Crude’s rise is a plausible driver of weakness in oil marketers, airlines and paint makers, which depend on input costs. But the same report describes a wider decline, so the session cannot be attributed to crude alone.
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The report’s stock list groups into four clusters, and each one responds to oil prices differently.
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- Oil marketing companies (HPCL, BPCL, Indian Oil): the sharpest declines in the report, with HPCL and BPCL down more than 4%. The report gives no company-level input-cost or margin data, so it does not establish how much of the drop reflects expected cost pressure.
- Airlines (IndiGo): fuel is a major operating cost for airlines, so a crude rally can weigh on the sector. The report gives no airline-specific fuel exposure figures.
- Paints (Kansai Nerolac, Asian Paints, JSW Dulux, Berger Paints): the paint group was mixed. Kansai Nerolac fell 4.8%, while Berger Paints rose 0.8%. The report does not explain the difference, so it should not be read as a company-specific cause.
- Tyres (CEAT, Apollo, JK Tyre, MRF): the smallest moves, between 0.6% and 1.4%. Rubber and synthetic inputs are linked to oil, but the report does not quantify that exposure.
The upstream producers are the notable counterpoint. Oil India and ONGC fell even though crude rose, which the report observes but does not explain. A rise in crude normally benefits producers, so their decline suggests the session was driven by more than the price of oil.
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What this data does not show
- It is a single session snapshot from one news report. It does not show how these stocks moved on later days.
- The figures are as reported by Moneycontrol and have not been checked against exchange records.
- The report gives no company statements, regulatory responses or official documents explaining the moves.
- It does not establish earnings or margin effects for any named company.
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