Sensex, Nifty close marginally lower as oil stocks drag

Indian shares ended marginally lower on Wednesday as oil stocks such as Indian Oil Corp Ltd and Oil and Natural Gas Corporation Ltd fell after global crude prices firmed on strong Chinese factory data.

The broader NSE Nifty closed 0.15 percent lower at 10,410.90, while the benchmark BSE Sensex inched 0.06 percent lower at 33,835.74.

Indian Oil dropped 3.1 percent while ONGC fell 1.6 percent.

Most financial stocks erased losses from earlier in the session, with the Nifty PSU bank index reversing course to close 1.8 percent higher.

Punjab National Bank ended up 1.4 percent.