New Delhi, April 3 -- FMCG, paints, QSR, and retail are among the sectors likely to be impacted the most due to the escalation of the US-Iran conflict, according to domestic brokerage firm Axis Securities. The brokerage has identified these four sectors as the most vulnerable amid rising oil prices and a shortage of gas supplies.

Crude oil prices have been trending higher since the onset of the US-Iran war on 28 February, rising over 60% so far. The surge follows supply disruptions triggered by the closure of the Strait of Hormuz by Iran, which is using the move as leverage to pressure the US to halt its attacks.

India is heavily dependent on crude oil imports, sourcing nearly 85% of its requirements, with a majority coming from the Mid...