New Delhi, Nov. 5 -- Shares of InterGlobe Aviation, the parent company of IndiGo, jumped over 7% on Thursday, 5 November, emerging as the top gainer on the Nifty 50. The rally was driven by a sharp decline in global crude oil prices, which boosted sentiment towards airline stocks. The stock extended its winning streak to a fifth consecutive session, gaining 17.5% over the period.

Brent crude prices fell over 8% in the previous session to slip below $94 a barrel, following signals from the US and Iran that they were willing to pursue peace talks. Lower crude prices are positive for airlines, as aviation turbine fuel (ATF) accounts for a significant share of their operating costs.

Oil prices extended their decline for a fourth consecutive...