March 1, 2012 / 3:56 AM / 5 years ago

Indian shares fall, ONGC rises 1 pct

MUMBAI, March 1 (Reuters) - Indian shares fell 0.4 percent early on Thursday as investors shifted their focus to a government share sale in Oil and Natural Gas Corp that aims to raise at least $2.5 billion.

ONGC rose 1 percent to 296 rupees. The government is selling a 5 percent stake in the country's largest oil producer at a floor price of 290 rupees a share. The one-day auction started at 9:15 a.m. (0345 GMT).

At 9:17 a.m. (0347 GMT), the main 30-share BSE index was down 0.44 percent at 17,671.8, with 17 of its components in the red.

The 50-share NSE index was fell 0.5 percent to 5,356.5. (Reporting by Kaustubh Kulkarni; Editing by Ranjit Gangadharan)

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