Mumbai, March 9: Aviation stocks experienced a significant decline on Monday due to rising crude oil prices, with shares of Indigo and SpiceJet dropping by approximately 6.5%.
At the end of the trading session, India’s largest airline, Indigo, listed under InterGlobe Aviation, saw its shares close down 3.47% at ₹4,251.20. During the day, the stock reached a high of ₹4,255 and a low of ₹4,035.
Meanwhile, SpiceJet’s shares fell by 6.64%, closing at ₹13.07. The stock fluctuated between a high of ₹13.40 and a low of ₹12.85 throughout the day.
In the SME category on the NSE, FlySBS Aviation shares also dropped nearly 5%, ending at ₹433.35.
Conversely, shares of private helicopter operator Global Vectra Helicorp rose on the BSE, closing at ₹158.
The price of Brent crude surged by 26% on Monday due to escalating tensions in the Middle East, reaching $119 per barrel. However, it has since softened and is currently around $104, reflecting a 12.84% increase.
The Indian stock market faced a substantial downturn during Monday’s trading session. By the end of the day, the Sensex fell by 1,352.74 points, or 1.71%, closing at 77,566.16, while the Nifty dropped by 422.40 points, or 1.73%, to settle at 24,028.05.
The decline was primarily led by auto and banking stocks. The Nifty Auto index fell by 4.10%, Nifty PSU Bank by 3.97%, Nifty Consumer Durable by 2.81%, Nifty Private Bank by 2.78%, Nifty Metal by 2.60%, Nifty PSE by 2.39%, Nifty Oil and Gas by 2.37%, and Nifty India Manufacturing by 2.36%. Only the Nifty IT index managed a slight gain of 0.08%.
Both mid-cap and small-cap stocks also experienced declines, with the Nifty Midcap 100 index falling by 1,127.85 points, or 1.97%, to 56,265.50, and the Nifty Smallcap 100 index dropping by 366.70 points, or 2.22%, to 16,132.20.
My name is Himanshu Tiwari. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including TECHNOLOGY, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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