IndiGo, SpiceJet shares rally up to 4% as crude oil prices fall below pre-war levels after 46% crash

Shares of Indian aviation companies IndiGo and SpiceJet rallied up to 4% after Brent crude slipped below $73 a barrel for the first time since February 2026, down about 42-46% from the $126 peak touched on April 30 amid Strait of Hormuz tensions. IndiGo surged 3.5% to Rs 5,386, while SpiceJet rose 4% to Rs 12.78. The crash in oil prices follows an interim U.S.-Israeli peace deal with Iran and the resumption of shipping traffic through the Strait of Hormuz, easing fuel cost pressures for airlines and supporting recovery in the aviation sector.