Boeing shares fall 8% in pre-market trade after Ahmedabad plane crash

Shares of Boeing Co. fell over 8% in US pre-market trading on Thursday after an Air India aircraft crashed during takeoff near the Sardar Vallabhbhai Patel Ahmedabad Airport. There were over 200 people onboard the Boeing 787-8 Dreamliner.

The shares were hovering around $196.50, down by $17.50 or 8.18% around 3:30 pm India time (6:03 am GMT-4).


A Reuters report said the plane was headed to Gatwick Airport in the UK.

On the domestic front, shares of budget airlines Interglobe Aviation and SpiceJet fell up to 3.4% on Thursday amid a beaten-down market mood and news of a tragic incident where an Air India plane crashed at the Sardar Vallabhbhai Patel Ahmedabad airport during takeoff, as per the Gujarat State Police Control Room.

Thursday turned out to be a rough trading session, as Indian benchmark indices Sensex and Nifty fell sharply amid a mix of global uncertainties — including escalating tensions in the Middle East and caution ahead of the weekly F&O expiry. IT stocks led the sell-off, dragging the indices down nearly 1% in intraday trade.

The BSE Sensex slumped over 900 points to hit the day’s low of 81,605.82 around 2:06 PM, while the NSE Nifty dropped nearly 250 points, slipping below the 24,900 mark. The market capitalisation of all listed companies on the BSE declined by Rs 4.19 lakh crore to Rs 451 lakh crore, reflecting broad-based selling across sectors.

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