Sensex down more than 300 points as geopolitical concerns weigh
BSE Sensex is down by more than 300 points on Tuesday as geopolitical factors continue to weigh on the markets.
Aviation stocks witnessed a sharp jump on Thursday morning after the government, on Wednesday announced that domestic passenger flight services will resume from May 25 in a calibrated manner.
At 12.03 p.m., the shares of InterGlobe Aviation were trading up 8.55 per cent at Rs 990.15 apiece, after hitting day’s high of Rs 1,029 apiece on the BSE.
SpiceJet also jumped 4.88 per cent to Rs 42.95, its upper circuit limit.
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Domestic passenger flight services will resume from May 25 in a calibrated manner, Civil Aviation Minister Hardeep Singh Puri said on Wednesday.
All scheduled commercial passenger flights have been suspended in India since March 25, when the government imposed a lockdown to curb the spread of the novel coronavirus. During this period, only cargo flights and special evacuation flights were permitted.
The government has intimidated all airports and airline companies to gear up to restart their operations from the scheduled date. The standard operation procedures will be announced shortly.
“Domestic civil aviation operations will recommence in a calibrated manner from Monday, May 25, 2020. All airports and air carriers are being informed to be ready for operations from 25th May,” Puri said on Twitter.
On the issue of keeping the middle seat vacant Puri on Wednesday had said, “It’s not viable to keep the middle seat vacant. Even if you keep the middle seat vacant you will still have a situation where prescribed distance for social distancing isn’t followed. If you were to do it then you have to hike up airline ticket price by 33 per cent.”
The D-street gave a thumbs up to the announcement and opened on a positive note on Thursday morning. At the time of reporting, BSE was trading at 31,085.56, higher by 266.95 points or 0.87 per cent from the previous close of 30,818.61 and Nifty50 on the National Stock Exchange was trading at 9,147.65, higher by 81.10 points or 0.91 per cent from the previous close.
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