Mumbai: The BSE Sensex is down 0.23 per cent, while the broader Nifty is trading 0.19 per cent lower. Oil and gas explorers are leading the losses, with ONGC sliding 6.2 per cent and RIL falling 2.8 per cent after the government deferred a decision to hike prices of locally produced gas.
However, losses were limited as auto stocks gained after Finance Minister Arun Jaitley said India had extended excise duty concessions for automobiles, among other sectors.
Investors were cautious ahead of the monthly derivatives contracts expiry for June, on Thursday.
Overseas investors bought shares worth of 6.95 billion rupees ($116.4 million) on Wednesday, provisional exchange data showed.
Asian shares swung higher on Thursday as weak US growth seemed to further delay the day when interest rates might rise, pulling down bond yields globally and pushing investors toward riskier assets in desperate search for returns.
