IndiGo Shares Plummet on Opening... Major 5% Drop Amidst Crisis, Stock Market Also Trembles

IndiGo Share Crash: The stock market had a poor start on Monday, the first trading day of the week. Both the Sensex and Nifty indices opened lower. The 30-share Sensex of the Bombay Stock Exchange was trading down by more than 300 points, while the Nifty also slipped by more than 100 points. The shares of airline company IndiGo were the most in focus, crashing as soon as trading began. A drop of nearly 5 percent was seen in early trading. Notably, the shares of IndiGo's parent company, Interglobe Aviation, have also been struggling amidst the ongoing airline crisis of the past six days.

Also Read: IndiGo cancels 650 flights again, will operate 1650 flights with passengers

Sensex-Nifty Decline Accelerates

Talking about the start of trading in the stock market on Monday, the BSE Sensex opened at 85,624.84, down from its previous close of 85,712.37. The decline in the index then accelerated, and within just 15 minutes of trading, it slipped by more than 300 points to trade at the 85,389 level.

Like the Sensex, the NSE Nifty also opened in the red. This index started trading at 26,159, down from its previous close of 26,186.45, and then suddenly it also slipped rapidly to the 26,077 level.

IndiGo Shares Crash on Opening

The IndiGo airline crisis is not yet over. IndiGo flights across the country have not yet returned to normal, and delays, rescheduling, and cancellations continue. This is affecting not only the airline's passengers but also investors who have invested in the company's shares. IndiGo shares continue to fall. On Monday, Interglobe Aviation, IndiGo's parent company, saw its shares plummet by nearly 5 percent at the opening bell.

Also Read: 'Over 1000 flights cancelled today', Indigo CEO promises restoration by Dec 15

These 10 shares fell the most today:

Besides IndiGo shares, other shares that saw the biggest declines amidst the market downturn include BEL (2.47%), Bajaj Finance (2%), and Bajaj Finserve (1.10%) in the BSE Largecap category. In the Midcap category, Kaynes (3.87%), Godrej Properties (2.90%), Prestige (2.85%), BDL (2.61%), and SJVN (2.40%) were trading lower. In the Smallcap category, SRM (5.50%) and Reliance Infra (4.97%) also saw significant declines.