Israeli’s attack on Iran and the plane crash in India has created a stir in the Indian market. In a way, the market is double hit. The Indian stock market has seen a major decline on 13 June after Air India crashed. At the same time, stress in the global market increased after the news of Israel being airsic on Iran, which also affected the Indian market. The Indian stock market was bled as soon as it opened. Where the Sensex opened by 1,264 points to 80,427, while the Nifty fell by 415 points to 24,473. There was a huge decline in the pre-opening session itself, causing an atmosphere of anxiety among investors. The direct effect of global geopolitical tension on the market is clearly visible
Sensex Nifty condition: In early trade, the Indian stock market appeared under heavy pressure. At 9:16 am, the Sensex fell 1,136.88 points, or 1.55% to 80,555.09, while the Nifty fell 332.95 points i.e. 1.67% and trading it trading at 24,55.25. This decline is mainly the effect of pressure in the global markets due to the possibility of Israel-Iran conflict.
Stocks of airline companies decline: At the same time, the effect of Air India aircraft accident in Ahmedabad was clearly visible on the aviation sector. The shares of IndiGo (Interglobe Aviation) and SpiceJet declined by about 5% in early trade amid increasing concerns over flight safety. In this tragic accident on Thursday, almost all of the 242 passengers aboard the aircraft lost their lives, which is being described as the biggest aircraft of the last decade.
In addition, Boeing’s stock closed around 5% to close at $ 203.60. The share of the Interglobe Aviation (IndiGo) fell by 3.31% to close at Rs 5446.35. SpiceJet’s stock fell by 2.40% and it closed at Rs 44.40. IndiGo’s stock came to Rs 5420 after the accident. At the same time, SpiceJet’s stock fell to Rs 44.29.
Sensex’s 30 stocks red: As soon as the market opened, shares of all 30 Sensex companies started trading in red mark. Whereas, only 1 out of 50 of the Nifty 50 opened the shares in the green mark and the shares of all the remaining 49 companies opened in the red mark. Today, Larsen & Toubro, one of the Sensex companies, opened the most with a decline of 2.77 percent.
Edited by: Navin Rangiyal
