Aviation stocks took a nosedive on June 12 after an Air India flight crashed near Ahmedabad airport. The London-bound plane, carrying 242 passengers, reportedly hit a building shortly after takeoff, sending shockwaves through the market.
Investors reacted swiftly. IndiGo shares dropped over 3%, while SpiceJet slipped 1.5%. Even Adani Enterprises, which operates the Ahmedabad airport, saw a nearly 1% decline. The tragic incident sparked concerns about aviation safety and short-term market stability.
Eyewitnesses described a chaotic scene as plumes of smoke rose from the crash site. Local residents rushed to help with rescue efforts, though official details are still pending.
Market analysts note that such events often trigger immediate stock volatility. Fears of tighter regulations, operational delays, or reduced air travel demand can lead to temporary panic. For now, the aviation sector is bracing for impact as the story unfolds.