Let $\mathfrak g$ be a Borcherds algebra with the associated graph $G$. We prove that the chromatic symmetric function of $G$ can be recovered from the Weyl denominators of $\mathfrak g$, and this gives a Lie theoretic proof of Stanley’s expression for chromatic symmetric function in terms of power sum symmetric functions. Also, this gives an expression for the chromatic symmetric function of $G$ in terms of root multiplicities of $\mathfrak g$. We prove a modified Weyl denominator identity for Borcherds algebras which is an extension of the celebrated classical Weyl denominator identity, and this plays an important role in the proof our results. The absolute value of the linear coefficient of the chromatic polynomial of $G$ is known as the chromatic discriminant of $G$. As an application of our main theorem, we prove that certain coefficients appearing in the above said expression of chromatic symmetric function is equal to the chromatic discriminant of $G$. Also, we find a connection between the Weyl denominators and the $G$-elementary symmetric functions. Using this connection, we give a Lie-theoretic proof of non-negativity of coefficients of $G$-power sum symmetric functions. I will also talk about the plethysms of chromatic symmetric functions.