Shares of airlines ended on a mixed note on Thursday with InterGlobe Aviation declining nearly 1 per cent, a day after the civil aviation ministry decided to do away with domestic fare caps.
Shares of SpiceJet went up 3 per cent to close at Rs 46.15 apiece on BSE and NSE. During the day, the scrip rallied as much as 6.80 per cent to Rs 47.90 apiece.
On BSE, IndiGo shares opened at Rs 2,070.05 apiece and rose 2.09 per cent to touch Rs 2,080.80 apiece. However, it surrendered the intra-day gains and fell nearly 1 per cent to close at Rs 2,019.85 per share.
The scrip declined 0.90 per cent to settle at Rs 2,020 apiece on NSE.
On Thursday, the 30-share BSE Sensex rose 0.88 per cent to 59,332.60 points.
The civil aviation ministry, on Wednesday, announced that limits imposed on domestic airfares will be removed from August 31.
"The decision to remove air fare caps has been taken after careful analysis of daily demand and prices of ATF. Stabilisation has set in and we are certain that the sector is poised for growth in domestic traffic in the near future," Civil Aviation Minister Jyotiraditya Scindia had said.