SpiceJet and Jet Airways (India) rose 1.81% to 2.49% at 14:43 IST on BSE aided by recent steep decline in international crude oil prices.
SpiceJet (up 1.81% at Rs 13.50) and Jet Airways (India) (up 2.49% at Rs 222.10) gained.
Meanwhile, the S&P BSE Sensex was down 86.56 points or 0.32% at 27,233.29.
SpiceJet had underperformed the market over the past one month till 8 September 2014, sliding 0.45% compared with Sensex's 7.86% rise. The scrip had also underperformed the market in past one quarter, declining 30.39% as against Sensex's 7.57% rise.
Jet Airways (India) had underperformed the market over the past one month till 8 September 2014, sliding 11.32% compared with Sensex's 7.86% rise. The scrip had also underperformed the market in past one quarter, declining 16.17% as against Sensex's 7.57% rise.
Brent crude oil futures edged lower, extending previous day's decline ahead of the weekly oil inventory data in the US, the biggest crude oil consumer. Brent for October settlement was off 16 cents at $100.04 a barrel. The contract fell 62 cents to settle at $100.20 a barrel yesterday, 8 September 2014. It had slumped to $99.36 in intraday trade yesterday, the lowest since 1 May 2013, before rebounding into three-digit territory.
Aviation turbine fuel (ATF) or jet fuel price is linked to international crude oil prices. Jet fuel constitutes about 40% of airlines' operating cost.
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