ONGC (1.37%) , ICICI Bank (1.33%)  and SBI (0.72%)  were the top  Sensex losers.  Market breadth was marginally positive with 1327 stocks closing higher compared to 1275 ending lower on the BSE.

The conglomerate is holding discussions with global refinery process licensors and equipment vendors for the new refining plant at the Jamnagar complex, which may cost $10 billion to the company, a report said. The plant would be able to process as much as 30 million tonne of crude a year, according to the report.

PNB Housing Finance was trading 0.89% lower, Indiabulls Housing Finance dipped 2.32%, Dewan Housing Finance rose 2.86%, Mahindra & Mahindra Financial Services fell by 0.74 per cent, Ujjivan Financial Services declined 0.22 per cent and Shriram Transport Finance softened by 0.85% on the BSE.

The small cap stock has lost 53.30% during the last one year and fallen 61.22% since the beginning of this year. The stock gained 41.13% during the last four sessions. The stock is trading above its 50 day and 200 day moving average of 216.13 and 311.87.

The stock gained up to 6.9% to 204.50 on the BSE. The large cap stock has gained after three days of consecutive fall and opened with a gain of 2.74% at 196.55. It is the top Sensex and Nifty gainer today.  On Nifty, the stock rose 5.71% to 201.90.

The two entities had announced a joint venture -- Asia Index -- in 2013 to provide an array of indices enabling global and domestic investors to participate in South Asia's vibrant economies.