The BSE Midcap and Smallcap indices underperformed the largecaps and ended over 1% lower.
Modi's government sees itself in a sweet spot with spare cash.
The Cabinet Committee on Economic Affairs last month allowed ONGC and Oil India Limited to tap shale resources in blocks allotted to them on a nomination basis.
Credit Suisse said $5.6 may work for Reliance Industries' R-Series gas field in the KG-D6 block but the economics for its satellite fields and NEC-25 block are uncertain.
The S&P BSE Sensex gained 57 points to end at 26,064 and the Nifty50 climbed 17 points.
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The Finance Ministry has filed the offer document with market regulator Securities and Exchange Board of India for the Central Public Sector Enterprises ETF, which could fetch the exchequer about Rs 3,000 crore (Rs 30 billion).
The acquisition of stake in Progress Energy Resources Corp for 1 billion Canadian dollars ($900 million) mark IOC's maiden entry into North America.
Cairn India is 25th on the list with 22.2 per cent CGR.
He added every dollar rise in the gas price will result in Rs 4,000 crore of revenue and Rs 2,300 crore in profit after tax.
OVL, along with Oil India Ltd, had in June agreed to buy Videocon Group's 10 per cent in the same block for $2.48 billion.
The government has ordered Oil and Natural Gas Corp (ONGC) to pay a near-record Rs 13,764 crore as fuel subsidy for the December quarter, a move that will dent the firm's profitability.
Inclusive of the July hike of 25 paise, a monthly increase of similar amount would result in a saving of Rs 2.25 a litre for the current financial year alone.
Oil tanked to a 7-year low as OPEC decided to maintain production.
Huge oil and gas reserves have been discovered in four districts of Rajasthan, bordering Pakistan, the state government announced on Friday.
The militants fought a pitched gun-battle with CISF jawans in the camp, destroyed an empty crude oil tank and ransacked an office block before fleeing into a nearby jungle, a senior police officer said.
On Thursday, Oil Minister Dharmendra Pradhan had stated that the government was reworking the subsidy-sharing formula.
Oil and Natural Gas Corporation, Gas Authority of India and Oil India Ltd will pay Rs 1,200 crore (Rs 12 billion) to the state-run oil marketing firms for the losses they suffered during the first quarter for selling LPG and kerosene below the cost.
The State-run Oil India Ltd will raise its stake in Numaligarh Refinery Ltd to 26 per cent to strengthen its position as an integrated oil company.
Markets will be closed on Thursday and Friday on account of Holi and Good Friday, respectively.
Oil subsidies to fall 44% in FY15.
This comes even after the Indian ambassador there had said this would affect the interests of other Indian companies.
The oil ministry is rejecting the monetisation of new discoveries as their production will not be viable at the present price of $4.2 per mmbtu
Cash-rich Central Public Sector Enterprises (CPSEs) have to either invest their surplus funds or give it to someone for investment purpose, Finance Minister P Chidambaram has said.
PSU employees will now get an option to subscribe up to 5 per cent of the issue size at a discount after the completion of disinvestment in the concerned state-owned company.
The US Government Accountability Office, in a recently released report, moved ONGC Videsh Ltd, the overseas arm of state explorer Oil and Natural Gas Corporation, and three others, including Petronet LNG Ltd, out of the list.
Prime Minister on Friday said his government has unshackled several stalled projects across the country.
Markets finished the session on a dismal note with Sensex closing at its lowest level since August 2014.
Investors sought to book profits at attractive valuations after recent run up in last few trading sessions.
About 48.5 million shares, or 20 per cent of the shares on offer, are reserved for retail investors
OVL, the overseas investment arm of state-run explorer Oil and Natural Gas Corporation, holds 40 per cent stake in the San Cristobal oil project in Venezuela.
Petroleum Minister Dharmendra Pradhan was to give away the awards but he could not attend because he was travelling.
Upstream firms pay for a portion of fuel subsidies by extending discounts on crude oil they sell to refiners who are forced by the government to sell diesel and cooking fuel at rates lower than cost of production.
In all, 61 companies have been pre-qualified to bid for 11 shallow water and 19 deepwater blocks in an international tender, according to Myanmar's Energy Ministry.
Pharma shares extended losses after the government's ban on combination drugs.
Fuel retailers sell diesel, domestic LPG and kerosene at government controlled rates which are below market price. The loss they thus incur is made good through cash subsidy from the government and dole from upstream firms like Oil and Natural Gas Corporation.
Iran has offered discounts on crude oil price and free shipping if India agrees to buy more of its oil.
At present, there is no direct air connectivity between India and Myanmar.
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The ETF is expected to fetch the govt Rs 3,000 crore.
The government on Friday cleared disinvestment in two bluechip state-owned companies IOC and Bhel, which would fetch over Rs 7,300 crore (Rs 73 billion) to the exchequer in the current fiscal.
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