- IndiGo shares fell over 5% after US President Trump declared US-Iran ceasefire over
- SpiceJet stock also dropped more than 5% amid market reaction to geopolitical tensions
- Nifty and Sensex indices declined around 2% following Trump’s remarks on Iran conflict
The stock of India's largest airline InterGlobe Aviation Ltd. (IndiGo) took a hit on the Dalal Street after US President Donald Trump said the ceasefire between America and Iran was over.
IndiGo fell as low as 5.58% to Rs 5,094 apiece on the NSE. Apart from IndiGo, SpiceJet Ltd. also tumbled over 5% to an intraday low of Rs 10.95 apiece.
As of 3:07 p.m. the stocks pared some losses with IndiGo trading 5.2% lower at Rs 5,114.50 and SpiceJet down 4.16% at Rs 11.5. This compared to a 2.07% decline in the Nifty index, and 2.16% decline in the Sensex index.
Trump's remarks have sent jitters through capital, equity, and financial markets across the globle. Crude oil prices, which had fallen below $70 per barrel in the last few weeks, surged once again.
As of 3:08 p.m. IST, global benchmark brent crude traded 6.5% higher at $78.9 per barrel, while West Texas Intermediate was up 6.49% to $75.01 per barrel.
The republican President called Tehran "dirty players" and declared the ceasefire between the two countries effectively over, while speaking in Ankara, where he is attending the NATO summit,
He addedd, "We attacked very powerfully last night against Iran." He said the strikes were retaliation for Iranian attacks on commercial vessels, adding: "Iran shot rockets at ships, that's why US hit back."
Asked directly whether the ceasefire between Washington and Tehran was over, Trump replied: "I think it's over," adding, "As far as I'm concerned, it's over."
ALSO READ: Gold Falls By Rs 2,000, Silver Slumps Rs 7,000 On MCX After Trump Says Iran Ceasefire Is Over
IndiGo, SpiceJet Share Price History
IndiGo's stock has risen 1.21% year-to-date, but fallen 11.7% in the last 12 months. SpiceJet on the other hand has plunged 62.34% year-to-date and 70.76% in the last 12 months.
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