Kingfisher Airlines rallies nearly 4% on hope of FDI approval

Triggered by the news that FDI in aviation sector is in final stages of approval, shares of country's leading airline Kingfisher Airlines rallied nearly 4 per cent on the Bombay Stock Exchange in early trading.

Cheering the news, shares of the airline company started the day on positive note and witnessed a gain of as much 3.96 per cent to Rs 13.10 a piece on BSE.

However, there was contraction in volume of trade with 13.94 lakhs shares changing hands till now compared to average of 39.82 lakhs shares in daily trade on BSE.

In a similar fashion, shares of the company were trading at Rs 13.00, up 3.17 per cent on the National Stock Exchange.

Meanwhile, the broader benchmark Sensex was quoting at 15,864.16, down 206.32 points or 1.28 per cent at 9:41 hours.