May 30, 2013 / 8:33 AM / 4 years ago

MARKET EYE-Indian shares fall; ICICI Bank, Cipla hit

* India's main BSE index falls 0.1 percent and the
broader NSE index is down 0.13 percent, heading for a
second day of falls ahead of the expiry of May derivatives
contracts later in the day. 
* Asian shares and the dollar were pressured on Thursday,
undermined by an overnight pullback in global equities as
investors assessed the implications of a potential softening of
the Federal Reserve's massive monetary stimulus programme.
  
* ICICI Bank Ltd declines 3.3 percent, while other
lenders also fall, on caution ahead of quarterly economic growth
data on Friday. 
* Cipla Ltd's shares also fall 4 percent after it
reported an 8.2 percent fall in quarterly net profit, lagging
street estimates, as sales growth in its key domestic market
slowed down. 
* State-run explorer Oil & Natural Gas Corp falls 2
percent after it reported a higher-than-expected 40 percent
slump in quarterly profit, as higher taxes, write-offs for dry
wells and additional depreciation offset rising sales.
 
* However, shares in Tata Motors Ltd gain 3.7 percent
after its quarterly earnings beat estimates, helped by
better-than-expected margins at unit Jaguar Land Rover Ltd
. 

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

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