Indian share prices closed marginally lower in light trade on Wednesday despite early gains linked to a joint oil exploration deal by state-owned Oil and Natural Gas and China National Petroleum, dealers said.
The Mumbai stock exchange's 30-share Sensex slipped 0.08 percent or 7.07 points at 9,339.17 on light volume of 28.46 billion rupees (621 million dollars) as 1,289 stocks declined and 1,144 gained.
"Some early purchases were seen after the oil deal was announced, but later prices slipped as profit-booking set in," said Hemen Kapadia, partner at Morpheus Inc India's Oil and Natural Gas and China National Petroleum Wednesday announced they had jointly acquired Syrian oilfields held by Petro-Canada.
Analysts see the deal as a major collaboration among the two energy-starved nations that are also significant buyers of oil.