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MARKET EYE-Indian shares trim losses; state owned oil companies gain
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Rahul Gandhi
The Congress lawmaker and scion of the Nehru-Gandhi dynasty turns 43 on Wednesday. Slideshow
* 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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