New Delhi, March 2 Shares of airline companies and tour and travel-related service providers plummeted on Monday morning as tensions in the Middle East escalated.
The stock of InterGlobe Aviation fell by 7.50 percent, while SpiceJet declined by 7.27 percent on the BSE.
Shares of Yatra Online fell by 11.14 percent, Easy Trip Planners slumped by 9.39 percent, TBO TEK dropped by 8.19 percent, and Thomas Cook fell by 5.40 percent.
In the equity market, the 30-share BSE Sensex traded 1,027.60 points lower at 80,284.17. The 50-share NSE Nifty tumbled 305.95 points to 24,864.35.
The conflict between Israel, the US, and Iran has resulted in multiple airspace closures in the Middle East, massively disrupting flight operations.
The Indian Association of Tour Operators (IATO) reported on Sunday a noticeable increase in booking cancellations and rescheduling requests, particularly for sectors connecting India with Europe via major Gulf hubs, due to airspace restrictions arising from the Middle East crisis.
IATO President Ravi Gosain told