IndiGo, SpiceJet fall up to 4% as Air India plane crash

IndiGo, Spice Jet fall up to 4% as Air India plane crash, crude oil spike rattle investors!

Indian aviation stocks came under pressure on June 13 after an Air India Dreamliner en route to London crashed shortly after takeoff from Ahmedabad, killing 241 people. The Boeing 787-8 was carrying 232 passengers and 10 crew members.

The selloff in aviation stocks was also influenced by rising geopolitical tensions in the Middle East. Global sentiment turned risk-averse after Israel launched a strike on Iran’s capital, targeting facilities reportedly linked to Tehran’s nuclear and missile programs. The Israeli government said it expected retaliatory attacks in response.

Crude sensitive stocks plunge as oil prices surge after Israel attacks Iran; HPCL, Asian Paints, others down up to 4%.

Shares of oil marketing companies (OMC), paint, tyre and other crude sensitive companies plunged on June 13 amid sharp rise in crude oil prices. This comes after Israel conducted strikes on Iran.

Brent crude oil futures shot up over 9 percent to hit a multi-month high of around $75.61 per barrel. WTI Crude Oil Futures also gained over 9 percent to hover around $74.39 per barrel. The sharp rise in the oil prices came after Israel carried out what it called "preemptive strikes" against Iran.