Shares of three airline companies rose 0.72% to 1.95% at 14:50 IST on BSE as crude oil prices extended losses.
Meanwhile, the S&P BSE Sensex was up 86.16 points or 0.31% at 27,788.84.
Jet Airways India (up 1.95%), SpiceJet (up 0.72%) and InterGlobe Aviation (up 0.8%) edged higher.
Lower crude oil prices benefit aviation firms as jet fuel prices, which typically constitute about 50% of airlines' operating costs, are directly linked to international crude oil prices.
In the global commodities markets, crude oil prices dropped as investors reassessed US data underlining the glut in petroleum, while Iraqi crude exports are also on the rise. Brent futures for September settlement were currently down 23 cents at $45.97 a barrel. The contract had fallen 97 cents or 2.06% to settle at $46.20 a barrel during the previous trading session.
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