Shares of Indian carriers SpiceJet Ltd, Jet Airways (India) Ltd and InterGlobe Aviation Ltd , which owns IndiGo, fell as much as 4.2 percent-7.9 percent. Brent crude rises over 2 percent as US sanctions restrict Iranian crude exports, tightening global supply.

Domestic passenger growth in August too has been the lowest since May at 17.2 percent, according to data released by the Directorate General of Civil Aviation.

Shares of Jet Airways traded at Rs 216.50, down by 5.64 percent at 3 pm, while Spicejet slipped by 5.26 percent to Rs 73. IndiGo shares also dropped by 3.81 percent to Rs 862.90.

Jet hits its lowest in nearly four years, while SpiceJet falls to its weakest since March 2017.

Jet had shed 72.4 percent this year as of Friday’s close amid financial woes.

Benchmark indexes look set for yet another negative close before the last 30 minutes of trading session left.

The NSE Nifty50 traded lower by 1.3 percent, or 144 points, to 10,998.50, while the BSE Sensex was at 36,408.09, slumping by 433.51 points, or 1.18 percent.

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