Shares of three aviation firms fell by 1.91% to 1.91% at 9:52 IST on BSE after crude oil prices edged higher in global commodities markets.
Jet Airways (India) (down 1.91%), SpiceJet (down 3.05%) and InterGlobe Aviation (down 1.91%), edged lower.
The S&P BSE Sensex was up 67.10 points, or 0.27% at 24,536.67.
In the global commodities markets, Brent crude oil futures edged higher. Brent for March settlement was up 36 cents at $34.25 a barrel. The contract had risen 79 cents or 2.39% to settle at $33.89 a barrel during the previous trading session.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 68.0650, compared with its close of 68.22 during the previous trading session.
Higher crude oil prices hurt aviation firms as jet fuel prices, which typically constitute about 50% of airlines' operating costs, are directly linked to international crude oil prices.
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