Sensex, Nifty flat; ICICI Bank, Cipla hit

Reuters Market Eye - The BSE Sensex and the Nifty were trading marginally lower on Thursday, 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.