Jet Airways is currently the top gainer on the BSE, up over 10% at Rs.295.70, with an over 5 times spurt in volumes. It also hit an intra day high at Rs.305.40, while its 52-week high stands at Rs.312.40.

The spike up in the stock price is purely speculative. With OPEC yesterday stating that it does not plan to cut output, international crude prices went down to a four-year low at around $75/barrel, down from its peak of $115/barrel. This has spiked up the markets over 300 points and there is hope that it is just a matter of time and cuts in jet fuel prices will be announced for December. With ATF costs eating away almost 30-40% of the revenue, this cut in price could help shore up the losses.