January 4, 2013 / 4:52 AM / 5 years ago

MARKET EYE-Indian shares fall on weak Asian markets; oil stocks up

* The BSE index falls 0.29 percent, while the NSE index
 is down 0.34 percent.  
* Asian shares fell on Friday, tracking overnight weakness in
global equities after senior Federal Reserve officials expressed
concerns about continuing to expand stimulative bond buying, but
the dollar extended gains as U.S. debt yields rose.
* Stocks also fall on profit-taking ahead of the weekend, with
Housing Development Finance Corp down 1.3 percent
while Tata Motors is down 1.1 percent.
* However, state-owned oil companies gain on expectations the
government could soon raise diesel prices, dealers say.
* A government official last month was quoted in local media
reports as saying the petroleum ministry has proposed a gradual
rise in diesel prices, by 1 rupee a litre every month over a
10-month period. 
* Indian Oil Corp is up 5.9 percent, Hindustan
Petroleum Corp gains 4 percent, while Bharat Petroleum
Corp is up 3.2 percent.

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

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