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Shares of Hindustan Petroleum Corp Ltd, Bharat Petroleum Corp Ltd and Indian Oil Corp Ltd jumped 8.7 per cent-12.4 per cent as oil prices slumped. Oil markets struggled to find their footing on Wednesday after a 7 per cent plunge in the previous session, with oversupply and the spectre of faltering demand keeping investors on edge.
Hindustan Petroleum climbed as much as 12.4 per cent to its highest since September 24; the stock was the top percentage gainer on the NSE index. IndianOil climbed as much as 10 per cent, in its sharpest intraday percentage jump since August 4, 2017.
Aviation stocks also climbed, with Interglobe Aviation Ltd rising 6.6 per cent to an 11-week high. Jet Airways (India) Ltd rose 3.7 per cent, while SpiceJet Ltd advanced 5 per cent ahead of its quarterly results.
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