On Thursday, during intraday trading, shares of oil marketing companies, aviation firms, paint manufacturers and tyre makers fell by around 1-5 per cent.
The decline was attributed to a surge in crude oil prices amid renewed concerns over supply disruptions in the Middle East.
Shares of Hindustan Petroleum Corporation Ltd and Bharat Petroleum Corporation Ltd were among the major losers.
Brent crude climbed above $102 a barrel.
Paint stocks also came under selling pressure, with Kansai Nerolac Paints falling 4.44 per cent to Rs 183.70, Asian Paints declining 1.88 per cent to Rs 2,327.80 and JSW Dulux (Akzo Nobel India) down 1.35 per cent at Rs 2,987.
Apart from the above, tyre manufacturers also came under pressure, with CEAT falling 1.64 per cent to Rs 3,247.90, Apollo Tyres declining 1.21 per cent to Rs 402.65, JK Tyre slipping 1.23 per cent to Rs 329.30 and MRF losing 0.6 per cent to Rs 122,350.
At 1:30 pm, the Nifty 50 was trading at 22,250, down 354 points, while the Sensex was trading at 71,622, down 1,004 points.
