Aviation stocks plunged up to 7.2 per cent Monday as brent crude price crossed USD 80 per barrel.
Shares of Spicejet plunged 7.20 per cent, Jet Airways tumbled 7.05 per cent and InterGlobe Aviation 4.97 per cent on BSE.
Brent crude prices hit a four-year high before trading up 2.34 per cent at USD 80.07 a barrel while WTI gained 1.81 per cent to USD 72.06 a barrel.
Shares of oil marketing companies also faced selling pressure, with Hindustan Petroleum Corporation falling 3.55 per cent, Bharat Petroleum Corporation 2 per cent and Indian Oil Corporation 1.68 per cent on BSE.
The broader market also continued to depict a weak trend with the benchmark Sensex falling sharply by 536.58 points or 1.46 per cent to end at 36,305.02, extending its fall for a fifth day.
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