Indian share prices closed 0.53 percent lower on Thursday as investors continued to unwind positions ahead of the earnings season which kicks off this week, dealers said. They said investors were nervous ahead of earnings due Friday by India's second largest software firm Infosys Technologies which could set a trend for the sector as the first to report.
The benchmark 30-share Mumbai stock exchange Sensex fell 69.43 points to 13,113.81 in choppy trade. "Investors are selling stocks, fearing volatility after the Infosys earnings. We expect a further correction from current levels," said Advait Date dealer of brokerage BHH Securities.
India's largest domestic carrier Jet Airways closed up 19.75 rupees or 3.42 percent to 628.6 after it announced it would buyout domestic rival Air Sahara for 14.5 billion rupees (337 million dollars).
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