Airline stocks bucked the weak broader market sentiment and ended with up to 3 per cent gains Thursday after the government cut excise duty on jet fuel to 11 per cent to give relief to the aviation industry.
In intra-day trade, these stocks surged up to 7.44 per cent.
Aviation stocks had surged up to 8 per cent in the previous trading session also.
After petrol and diesel, the government Wednesday cut excise duty on jet fuel to 11 per cent to give relief to the aviation industry that has been hit hard over recent weeks by rising fuel prices and plummeting rupee.
Meanwhile, the BSE Sensex slumped over 759.74 points to end at 34,001.15 Thursday.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)