Airlines stocks declined in the trade as oil firms hike jet fuel prices by over 6 per cent and increase in international crude prices also weighed the sentiments.
Kingfisher Airlines is currently trading at Rs 39.80, down by 0.95 points or 2.33% from its previous closing of Rs 40.75 on the BSE. The scrip opened at Rs 41.00 and has touched a high and low of Rs 41.10 and Rs 39.55 respectively. So far 2,46,851 shares were traded on the counter.
Jet Airways (India) is currently trading at Rs 461.50, down by 9.00 points or 1.91% from its previous closing of Rs 470.50 on the BSE. The scrip opened at Rs 471.00 and has touched a high and low of Rs 471.00 and Rs 457.20 respectively. So far 98,866 shares were traded on the counter.
Spicejet is currently trading at Rs 39.00, down by 1.15 points or 2.86% from its previous closing of Rs 40.15 on the BSE. The scrip opened at Rs 40.00 and has touched a high and low of Rs 40.35 and Rs 38.85 respectively. So far 8,52,659 shares were traded on the counter.
State-owned oil firms hiked jet fuel prices by a massive 6 per cent, the 11th rate increase in six months. Aviation turbine fuel (ATF) rates in Delhi have been hiked by Rs 3,377.09 per kilolitre (kl), or 6.14 per cent, to Rs 58,310.45 per kl.
The hike comes on the back of three consecutive massive hikes since February this year, when crude oil spiked to over $100 per barrel.
Meanwhile, benchmark crude for April rose $3.40 to expire at $101.38 a barrel, after trading in a range from $96.60 to $101.99 on the New York Mercantile Exchange. In London, ICE Brent crude for May rose $4.30, or 3.89 percent, to settle at $114.90 a barrel on the ICE.
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