In the 50-scrip index Nifty, 35 stocks finished the day in the negative zone.
Among other oil & gas shares, Oil India, GAIL India and Bharat Petroleum also fell up to 1.6 per cent.
Global crude oil prices held steady on Thursday. US West Texas Intermediate (WTI) crude futures rose 17 cents, or 0.3 per cent, to $61.13 a barrel while Brent crude futures were at $65 per barrel, up 11 cents, or 0.2 per cent.
Crude oil prices were receiving support from healthy demand. The Organization of the Petroleum Exporting Countries (OPEC) said on Wednesday that oil consumption was expected to grow by 1.62 million barrels per day (bpd) in 2018.
State-run banks and FMCG stocks also sagged. SBI fell over 1 per cent, PNB 0.7 per cent while Bank of Baroda ended 1.3 per cent lower. Private banks ICICI Bank, Yes Bank and Axis Bank finished Thursday's session around 1-2 per cent lower.
Fertiliser stocks, and other agricultural stocks, rose significantly, a day after the government decided to continue a urea subsidy scheme till 2020 and implemented the direct benefit transfer (DBT) scheme.
National Fertilizers, Rashtriya Chemicals and Fertilizers, and Madras Fertilizers rose 4-6 per cent.
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