January 31, 2013 / 4:52 AM / 5 years ago

MARKET EYE-Indian shares fall; ICICI bank earnings key

* The BSE index is down 0.23 percent and the 50-share
NSE index is down 0.15 percent.
* Trading is expected to remain volatile as Thursday is last day
of derivatives expiry when traders roll over derivatives
position to February series. 
* ICICI Bank Ltd shares down 0.75 percent ahead of
December quarter earnings. Barclays has upgraded it to
'overweight' from 'equalweight' on positive credit quality
outlook. 
* Colgate Palmolive India Ltd shares fall 2 percent
after reporting lower-than-expected volume growth at 8 percent,
the lowest in the past 15 quarters. 
* However, Power Finance Corp Ltd shares gain 2.6
percent after reporting a sharp improvement in margins in the
October-December quarter earnings. 
* Indexes are heading for a third straight month of gains, the
longest winning run since September 2010 when indexes gained 4
months in a row.

 (manoj.dharra@thomsonreuters.com/
manoj.dharra.thomsonreuters.com@reuters.net)

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