Crude oil sensitive firms end lower

New Delhi, Jun 17 (PTI) Shares of crude oil sensitive sectors -- oil marketing companies, aviation, paints and adhesives -- ended lower on Tuesday following a spike in Brent crude oil prices amid the ongoing conflict between Israel and Iran.

The stock of Bharat Petroleum Corporation Ltd dropped 1.12 per cent, Hindustan Petroleum Corporation Ltd declined 0.91 per cent, and Indian Oil Corporation dipped 0.21 per cent on the BSE.

Shares of InterGlobe Aviation decreased 1.37 per cent and SpiceJet slipped 0.68 per cent.

Among paint stocks, Indigo Paints fell by 1.71 per cent, Berger Paints edged lower by 1.07 per cent and Akzo Nobel India dipped 0.73 per cent.

Global oil benchmark Brent crude jumped 2.08 per cent to USD 74.70 a barrel.

"Benchmark indices ended lower on Wednesday, reversing some of yesterday's gains on signs of escalating conflict in the Middle East," Satish Chandra Aluri, Analyst at Lemonn Markets Desk, said.

The 30-share BSE Sensex declined 212.85 points or 0.26 per cent to settle at 81,583.30. The 50-share NSE Nifty dropped 93.10 points or 0.37 per cent to 24,853.40.

"The benchmark equity index experienced moderate losses amid rising risk of an escalation of conflicts in the Middle East ahead of the FOMC (Federal Open Market Committee) meeting. This uncertainty pushed Brent crude prices higher - an unfavourable development for India, given its heavy reliance on oil imports, thereby dampening earnings growth," Vinod Nair, Head of Research at Geojit Investments Limited, said. PTI SUM SUM SHW