MUMBAI: 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.
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.
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