New Delhi, May 12 -- Shares of InterGlobe Aviation (Indigo) and Spicejet surged by 10% during Monday's trading session after India and Pakistan announced on Saturday that they had reached an agreement to halt all military actions and firings on land, air, and sea.

The reduction in border tensions between India and Pakistan has reportedly raised expectations for the normalization of airline operations.

This development followed India's initiation of 'Operation Sindoor' on May 7, aimed at targeting terror infrastructure located in Pakistan and Pakistan-occupied Kashmir, in response to the terror attack in Pahalgam.

Investor confidence received an extra boost when the government permitted operations at 32 airports, including those in bord...