Aviation stocks today rose by up to 4 per cent on expectations of lower jet fuel prices as oil rates took a beating.
Shares of SpiceJet went up by 4.03 per cent to close at Rs 131.70 on BSE. The stock surged 4.81 per cent to touch its one year high of Rs 132.70 during the day.
Jet Airways gained 2.99 per cent to Rs 565.60.
Shares of InterGlobe Aviation went up by 1.51 per cent to end at Rs 1,249.50. In intra-day trade, the stock rose by 2.25 per cent to Rs 1,258.75 -- its 52-week high.
"Fall in global oil prices dragged the oil marketing companies, but it fuelled a surge in aviation stocks," said Anand James, Chief Market Strategist, Geojit Financial Services Ltd.
The benchmark Brent hit a fresh seven-month low of USD 45.85 a barrel -- a level not seen since November 18 last year.
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