India's paint makers jump on drop in crude prices
** Shares of paint makers - Asian Paints ASPN.NS, Indigo Paints INDG.NS and Kansai Nerolac KANE.NS, Shalimar Paints SHLP.NS, Berger Paints India BRGR.NS rise 2.5%-5%
** ASPN up 2.3% is the top percentage gainer on Nifty 50 index .NSEI which is down about 0.6%
** Drop after oil prices fell on the day, extending a plunge of over 4% in the previous session, on expectations that a political dispute halting Libyan exports could be resolved and concerns over lower global demand growth
** Brent crude futures LCOc1 trading near $73.5 per barrel O/R
** Drop in crude prices a positive for paint makers as it will bring down their total costs, as crude is a key raw material to make paints, solvents and resins, say two analysts
Reporting by Bharath Rajeswaran in Bengaluru
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