Aviation stocks surged as InterGlobe Aviation climbed 6% after a partial jet fuel price hike. The partial increase, amid global oil price surges, provided relief to domestic airlines. IndiGo and SpiceJet stocks rose, buoyed by the equity market rally. Industry leaders expressed relief at government's decision.

Aviation Stocks Soar Amid Partial Jet Fuel Price Hike

Aviation stocks experienced a significant boost on Wednesday, driven by a partial increase in jet fuel prices. InterGlobe Aviation, the parent company of IndiGo, saw its stock leap by 6%, ending the day at Rs 4,180.90.

The rally was bolstered by the equity market's overall upward trend, with the BSE Sensex climbing 1.65% and NSE Nifty rising 1.56%. This positive movement was supported by the calibrated 8.5% rise in Aviation Turbine Fuel (ATF) prices for domestic airlines.

The decision to prevent a doubling in fuel prices amid volatile global conditions offered a relief to domestic carriers, as Indigo and SpiceJet acknowledged in statements, highlighting the strategic importance of this price regulation amid ongoing Middle East conflicts.

(With inputs from agencies.)