DGCA May data, soaring oil prices drag InterGlobe Aviation shares 3%

Shares of InterGlobe Aviation, the parent of IndiGo, came under pressure, falling more than 3 per cent on Wednesday, July 8, 2026, after the latest data from the Directorate General of Civil Aviation (DGCA) showed the airline's market share declined in May.

 

The sentiment was further hit by a rise in crude oil prices after the US military launched airstrikes against Iran and reimposed crude sales sanctions, raising concerns that the fragile truce could unravel and disrupt supplies from West Asia.

 

At last check, Brent crude was trading 2.83 per cent higher at $76.26 a barrel, while US West Texas Intermediate (WTI) crude was up 2.85 per cent at $72.75 per barrel.

 

IndiGo shares declined as much as 3.10 per cent to ₹5,228.85 apiece on the BSE during intraday trade on Wednesday. Despite the decline, the stock remains more than 34 per cent above its 52-week low of ₹3,894.80 touched on March 23, 2026.

 

The stock recovered part of its losses but continued to trade in the red. At 11:01 am, IndiGo shares were trading at ₹5,294, down 1.90 per cent from the previous close. The benchmark BSE Sensex was at 77,829, down 350.88 points, or 0.45 per cent.

DGCA data

Indian airlines carried 1.53 crore domestic passengers in May, up more than 11 per cent from 1.38 crore passengers in April, according to official data released by the DGCA. Domestic air traffic also rose 9.49 per cent compared with May 2025.

 

However, IndiGo's domestic market share slipped to 64.9 per cent in May, the data showed.

 

In terms of on-time performance (OTP) across the 10 major airports in May, IndiGo topped the list with 82.8 per cent, followed by Akasa Air at 78.3 per cent and the Air India Group at 74.5 per cent.

 

"Passengers carried by domestic airlines during January-May 2026 were 729.40 lakh as against 715.70 lakh during the corresponding period of the previous year, thereby registering an annual growth of 1.91 per cent and monthly growth of 9.49 per cent," said the DGCA in its report.  CHECK Stock Market LIVE Updates

Should you buy the dip? Here's what charts suggest

According to Harish Jujarey, head of technical equity research at Prithvi Finmart, IndiGo's stock has moved above both its 20-day and 200-day moving averages while retracing more than 50 per cent of its previous decline, indicating a positive medium-term trend.

 

"However, the sharp bounce in crude oil prices in yesterday's session has triggered some profit booking. Immediate support is placed around 5,180, followed by the crucial 200-day moving average support near 5,000. Any dip towards the 5,180-5,150 zone could provide a buying opportunity for investors with a medium-term perspective," said Jujarey.  ================================================== 

Disclaimer: View and outlook shared belong to the respective brokerages/analysts and are not endorsed by Business Standard. Readers' discretion is advised.