Boeing's shares plummet 8% after Air India 787 plane crash
What's the story
Boeing's shares have taken a major hit, plummeting by nearly 8% in pre-market trading on Thursday. The decline comes after an Air India Boeing 787-8 Dreamliner crashed in Ahmedabad today afternoon. The aircraft was carrying 242 passengers and was headed to London's Gatwick Airport when it crashed into a civilian area close to the airport.
Bushiness fallout
Interglobe and SpiceJet's shares also tank
In the wake of the incident, Boeing said it was aware of the initial reports and was working to gather more information. The crash has not only impacted Boeing's shares but also affected other airlines. Shares of domestic carriers Interglobe Aviation (Indigo) and SpiceJet fell by up to 3.4% on Thursday amid a negative market sentiment following this tragic incident.
Market reaction
Sensex crashes 900 points
Thursday was a challenging trading day for Indian benchmark indices Sensex and Nifty, which fell sharply amid global uncertainties. The BSE Sensex plummeted over 900 points to a low of 81,605 around 2pm while the NSE Nifty fell nearly 250 points to trade below the 24,850 mark. This broad-based selling across sectors resulted in a decline of ₹4.19 lakh crore in the market capitalization of all listed companies on BSE to ₹451 lakh crore.