IndiGo, SpieceJet share price today: Aviation stocks came under selling pressure on Wednesday as oil prices spiked amid concerns over disruptions to crude supplies through the Strait of Hormuz.
Brent crude, the global oil benchmark, was trading higher by 1.06 per cent at USD 95.65 per barrel amid concerns over disruptions to crude supplies through the Strait of Hormuz.
“Several sectors are directly affected if crude oil prices spike. Fuel accounts for nearly 30-40 per cent of airline operating costs,” VK Vijayakumar, chief investment strategist, Geojit Investments, said, adding that if oil prices remain elevated, this could impact the margins. ATF price hiked
Earlier on Tuesday, ATF prices were hiked by state-owned oil firms by more than 5 per cent in line with a rise in their international benchmarks. The price of ATF was raised by ₹6.28 per litre, or 5.46 per cent, to ₹121.28 per litre for domestic airlines. The increase comes on the back of a ₹5 a litre rise in rates on August 1.
“The aviation sector has been impacted because of two things. One, the revision in ATF prices by the government. The hikes will add to the financial burden of airlines. Secondly, crude prices have again shot up by 5 per cent overnight due to the escalation of tensions in West Asia. This means it might necessitate further revision in ATF prices,” he said.
At the last check, IndiGo shares were trading close to the day’s low, down 2.5 per cent at ₹4,925, while SpiceJet shares were down 1.3 per cent at ₹9.86.
Notably, IndiGo shares have remained under pressure since the start of the West Asia conflict in February. On a Y-T-D basis, the stock has declined 4 per cent. At one point in March, however, the counter was down as much as 24 per cent in 2026.
Impact may extend to Q3 ICICI Securities said that ATF have been higher for longer now, with an impact likely in Q2FY27 extending into Q3. However, that does not change its thesis on IndiGo, and it believes that this correction could be a buying opportunity. At this juncture, the industry has consolidated, travel demand is high, and with stable currency incrementally, it expects non-fuel cost per available seat kilometer (CASK) to stabilise hereon at an annual level. IndiGo’s 2030 outlook, wherein it may have an annual capacity of ~300bn ASKs, implying mid-teens capacity CAGR, 200mn passengers and >3,000 daily departures by 2030, also improves medium-term earnings visibility and in turn provides constructive valuation guidance for investors. The brokerage has maintained its ‘Buy’ rating on IndiGo with an unchanged target price of ₹6,020.
IndiGo stock: Technical view
Meanwhile, Virat Jagad, senior technical research analyst at Bonanza, said that IndiGo is showing short-term weakness after rejection from the ₹5,200–5,250 resistance zone and is slipping below major short-term EMAs. RSI is weakening, indicating negative momentum.
“Avoid fresh buying currently. ₹4,888 is major support. A breakdown below ₹4,888 can trigger ₹4,750–4,600 levels,” he said.
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