MARKET EYE-Indian shares trim losses; state owned oil companies gain

Fri Jan 4, 2013 2:25pm IST

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* The BSE index down 0.06 percent after falling as much
as 0.4 percent, while the NSE index fell 0.1 percent.   
* Among metal stocks Tata Steel falls 2.1 percent,
while Hindalco is down 1.8 percent, on profit-taking
ahead of the weekend.
* However, state-owned oil companies gain on expectations the
government could soon raise diesel prices, and on hopes that a
pricing formula, recommended by a government-appointed panel,
will help sharply raise the prices of domestic natural gas,
dealers say.  
* Among refiners, Indian Oil Corp is up 5.9 percent,
Hindustan Petroleum Corp gains 4 percent, Bharat
Petroleum Corp rises 3.2 percent, while shares of oil
explorer ONGC are up 2.4 percent and Oil India gains 3.1
percent.

 (abhishek.vishnoi@thomsonreuters.com /;
abhishek.vishnoi.reuters.com@reuters.net)
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