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The Relative Strength Index of the stock stood at 55.53 on Monday.

Santosh Meena, Head of Research, Swastika Investmart said paint stocks are tumbling as there is a double whammy situation for them where boiling crude oil prices is a key challenge because it will dent the margin as crude is one of the key raw materials for the paint companies.

In tandem with the heavy plunge in equities, the market capitalisation of BSE-listed companies plunged by Rs 5,91,094.71 crore to Rs 2,40,88,326.67 crore in morning deals.

IFB Industries Ltd., incorporated in the year 1974, is a Mid Cap company (having a market cap of Rs 3288.71 Crore) operating in Consumer Durables sector.

The shock is being felt in unexpected places. In Germany, the debt office has had to increase the size of a bond to ease conditions in euro zone overnight lending markets, a crucial source of credit for banks and other financial institutions.

A total of 421 shares changed hands on the counter till time (IST).

Kotak said the government may have to cut excise duty on diesel and gasoline further to mitigate the impact on consumers. It assumes that the government may not bear any LPG subsidy.

All of the top digital tokens were bleeding, with Terra down more than 10 per cent, followed by an 8 per cent fall in Solana and Avalanche each. Cardano, XRP and Ethereum shed up to 6 per cent.

“Despite the developments in the Russia-Ukraine conflict, the US economy is in a very strong shape, they are not impacted by this oil move as much as some of the oil dependent countries like India are. Therefore, these are the sectors – IT, textiles and chemicals which are definitely worth looking into.”

“Right now though the market is not sure how much uncertainty there is. War is going on. It seems like it will stay contained within a finite geographic area but you cannot be sure. As soon as the market gets some intuitive sense, it will start recovering and rallying well before the market men or experts become comfortable with what is going on in the world.”