Shares of paint companies — Asian Paints, Berger Paints, Kansai Nerolac and Repro India — declined between 1.5-3 percent in early trade on Wednesday amid an escalation in US-Iran tensions.

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Asian Paints trades in a narrow range falling almost 1.7 percent intra-day. The stock quoted at Rs 1717.25 on BSE, down 0.32 percent at 9.53 am.

Shares of Berger Paints India ltd slipped as much as over 2 percent to the day's low of Rs 484.15 apiece. The stock quoted at Rs 494.15, trading flat it the red on BSE.

Kansai Nerolac Paints ltd shares fell over 2.5 percent to the day's low of Rs 495.55. The stock traded at Rs 502 apiece, still down by 1.3 percent on BSE.

Repro India fell as much as 2.4 percent to Rs 590.55 per share intra-day. It quoted at Rs 600.10 apiece, down 0.73 percent on BSE.

Meanwhile, benchmark indices open lower on Wednesday, following Asian peers, as oil prices soared amid escalating Middle-east tensions.

Oil prices surged 4 percent after Iran fired missiles at an Iraqi airbase that hosts US military forces. Meanwhile, Gold also rose to its six-years high as investors shifted to safe havens post the strike.

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First Published:Jan 8, 2020 10:27 AM IST