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Shares of J et Airways (India) Ltd,SpiceJet Ltd and InterGlobe Aviation Ltd fell between 3.9-6.6 per cent as oil prices jumped more than 1.5 per cent after top exporter Saudi Arabia announced a supply cut in December and other producers considered reductions heading into 2019.
Jet Airways fell as much as 6.6 per cent in its sharpest intraday drop since October 31; Jet shares are down about 69.1 per cent this year as of last close. The company is due to report quarterly results later in the day.
Shares of InterGlobe Aviation, owner of India's largest domestic carrier by market share - IndiGo, post their biggest intraday percentage drop since mid-October.
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