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Falling for the second straight session,aviation stocks today tumbled,led by SpiceJet which plunged by 8.15 per cent.
Traders attributed the turbulence in counters of the airline companies to weak investor sentiment on worries over allowing FDI in the sector.
Shares of SpiceJet plummeted 8.15 per cent to close at Rs 32.10,while Kingfisher Airlines plunged 4.73 per cent to Rs 8.87.
Jet Airways also fell by 1.21 per cent to Rs 374.55 on the BSE.
The government has been unsuccessful in going ahead with the key reform bills in Parliament mainly due to opposition from its key ally,Trinamool Congress.
In the aviation sector,the government is considering allowing foreign airlines to pick up stake in domestic carriers.
The stalemate in Parliament over coal block allocation issue entered the second week today paralysing the Lok Sabha and the Rajya Sabha despite Prime Minister Manmohan Singh’s statement as a determined BJP stuck to its demand for his resignation.
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