Airline stocks shoot up 3 percent

NEW DELHI: 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. Shares of InterGlobe Aviation gained 3.25 per cent, SpiceJet rose 3.16 per cent and Jet Airways 1.11 per cent on the BSE. 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.