Airlines and OMCs decline as Brent Crude Surge

Shares of Oil Marketing (OMCs) as well as Airline companies declined on Friday as Brent Crude oil traded over its significant level at USD64per-barrel.

Oil marketing companies stocks such as IndianOil (IOC) falls 1.72%, Hindustan Petroleum (HPCL) falls 0.12% and BharatPetroleum (BPCL) drops 0.45% during mid-morning session.

Among Airline share, SpiceJet dropped 4.75% while Indigo or InterGlobeAviation fell 2.54% and Jet Airways down 12.17% following a sharp surge in global crude oil prices. 

Equity benchmark indices meantime continue their down trend with Sensex falling 240-points at 39,360-mark and the NSE Nifty lower at 11,768, down 63points at 11:40hours.

Also, at this time, Nifty Energy index fell 0.55% at 15,991.90.  Top Falling constituents in the Energy index were IOC, Reliance, PowerGrid, GailIndia, ONGC and Reliance Infra.

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