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The Economic Times
The Economic Times
Veer Sharma

IndiGo, HPCL, other oil sensitive stocks plunge up to 5% as US strikes on Iran lift crude prices

Oil HPCL IndiGo Iran United States the Strait of Hormuz crude oil Middle East Gulf Saudi Aramco

Shares of IndiGo, SpiceJet, HPCL, BPCL, other oil sensitive stocks tumbled up to 5% on Wednesday after the United States carried out airstrikes on Iran and reinstated sanctions on Iranian crude sales, reigniting concerns over the stability of the Middle East ceasefire and the risk of fresh supply disruptions.

HPCL shares tumbled over 4% to Rs 388 on the BSE, while Bharat Petroleum plunged 5% to Rs 299 per share. Indian Oil shares declined 3.5% to Rs 137 on the BSE. Two listed airlines - Indigo declined over 3% to Rs 5,220, while SpiceJet dipped over a percent. Nifty FMCG, Oil & Gas, and Nifty Auto fell 1%, 2%, and 1.3%, respectively.

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