Falling crude oil price sends tyre, paint, oil marketing and airline companies soaring in relief rally

Brent crude fell over 5% to $85.80/barrel, slipping below $90 for the first time in three months, on optimism over a potential US-Iran peace deal after a 20% surge since the conflict began. The pullback triggered a relief rally in oil-importing sectors — OMCs (HPCL up 6.3%, BPCL 5.6%, IOC 5%), tyre makers (Ceat 5.8%, Apollo Tyres 4.2%, MRF 2.1%), airlines (InterGlobe Aviation 4.6%, SpiceJet 7.3%), and paint companies (Asian Paints 2.1%) — while dragging upstream producers like ONGC (-2.5%) and Oil India (-2.7%). Analysts noted $80-90 is a 'sweet spot' for most sectors, though OMC earnings visibility remains clouded after April-May losses.