Markets

Airline stocks jump up to 5% as crude oil price eases

NEW DELHI: Shares of most aviation companies jumped in Tuesday's session amid a fresh fall in global crude oil prices.

Oil prices fell on Tuesday on expectations of an increase in US crude inventories, with Brent crude slipping by 80 cents a barrel, Reuters reported.

Shares of Jet Airways (up 5.67 per cent) and IndiGo (up 5.13 per cent) surged over 5 per cent on BSE.

Global Vectra Helicorp (up 4.93 per cent), SpiceJet (up 2.69 per cent) and Jagson Airlines (up 2.56 per cent) climbed up to 5 per cent.

The NSE Nifty index was trading 74 points up at 10,587, while the BSE Sensex was up 286 points at 35,151 around 2:30 pm.

Equity benchmarks were in the higher territory amid rupee's fresh rise against the US dollar. A slight fall in the crude oil price also influenced the sentiment.

In the 30 share Sensex index, 22 stocks were in the green, with ONGC, Mahindra & Mahindra, Axis Bank and ICICI Bank as top gainers.

Shares of private lender ICICI Bank jumped over 2 per cent on BSE in Tuesday's session after the RBI approved the appointment of Sandeep Bakhshi as MD & CEO of the bank.

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