Aviation stocks under pressure; IndiGo down 7%, SpiceJet hits 52-week low

Shares of aviation companies were under selling pressure amid rising crude oil prices with InterGlobe Aviation, which runs IndiGo, down as much as 7 per cent to Rs 1,838.75, and its peer SpiceJet had hit a 52-week low at Rs 57.70, down 5 per cent on the BSE in Thursday’s intraday trades. These companies have significant exposure to price movement of Aviation Turbine Fuel (ATF) which is a derivative of crude oil.

Oil rose on Wednesday, touching $90 a barrel for the first time in seven years, as tight supply and rising political tensions between Russia and Ukraine added