Shares of three aviation companies rose 0.01% to 1.94% at 11:15 IST on BSE after crude oil prices dropped in the previous session.
Meanwhile, the S&P BSE Sensex was up 145.74 points or 0.54% at 27,045.30.
Jet Airways (India) (up 0.01%), SpiceJet (up 1.94%) and InterGlobe Aviation (up 1.41%) gained.
In global commodities markets, Brent for March 2017 settlement was up 10 cents at $53.74 a barrel. The contract had dropped $1.3 a barrel or 2.36% to settle at $53.64 a barrel during previous trading session.
Crude oil prices edged up today, 11 January 2017, lifted by a small supply cut by crude exporter Saudi Arabia, but markets remained under pressure from signs that the planned Organization of the Petroleum Exporting Countries' (OPEC) output reductions were being poorly implemented and as supplies from elsewhere rose.
Lower crude oil prices would benefit aviation firms as jet fuel prices, which typically constitute about 50% of airlines' operating costs, are directly linked to international crude oil prices. Jet fuel prices tend to fall with slide in oil prices.
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