Airline, OMC stocks spurt up to 4.7 pc after crude oil prices slide

Shares of oil marketing and airline companies gained up to 4.7 per cent today after crude oil prices posted their biggest one-day drop in two years.

InterGlobe Aviation surged 4.70 per cent, SpiceJet rose 2.72 per cent and Jet Airways (India) gained 1.80 per cent on BSE.

Shares of Bharat Petroleum Corporation Ltd gained 2.61 per cent, Hindustan Petroleum Corporation Ltd 1.53 per cent and Indian Oil Corporation 1.10 per cent.

Brent crude futures rebounded to USD 74.46 a barrel after tanking 6.9 per cent overnight, its biggest one-day percentage drop since February 2016.