New Delhi, March 2 Shares of airline companies, and those providing tour and travel-related services, declined on Monday amid escalating tensions in the Middle East.
The stock of InterGlobe Aviation closed 6.25 per cent lower after falling 7.50 per cent during intra-day trading on the BSE. Shares of SpiceJet also dropped 5.72 per cent, and during intra-day trading, it had declined by 9.20 per cent.
Shares of Yatra Online fell 9.59 per cent, Easy Trip Planners declined 7.08 per cent, TBO TEK dropped 4.04 per cent, Thomas Cook decreased by 3.57 per cent, and Le Travenues Technology dipped 2.08 per cent.
In the equity market, the 30-share BSE Sensex fell by 2,743.46 points or 3.37 per cent to 78,543.73 in early trading. It later closed at 80,238.85, down 1,048.34 points or 1.29 per cent.
The 50-share NSE Nifty fell by 575.15 points or 2.28 per cent to 24,603.50 in intra-day trading. The benchmark later settled 312.95 points or 1.24 per cent down at 24,865.70.
Brent crude, the global oil benchmark, rose 7.75 per cent to USD 78.49 per barrel.
The conflict between Israel, the US, and Iran has resulted in multiple airspace closures in the Middle East, significantly disrupting flight operations.
The Indian Association of Tour Operators (IATO) reported a noticeable increase in booking cancellations and rescheduling requests, particularly for routes connecting India with Europe via major Gulf hubs, due to airspace restrictions arising from the Middle East crisis.
IATO President Ravi Gosain told
