Indian shares fall

Indian shares fell on Monday as increasing trade tensions between the United States and other major economies continued to dampen investor sentiment. The broader NSE index ended 0.55 percent lower at 10,762.45, while the benchmark BSE index closed 0.61 percent lower at 35,470.35.
Financial and energy stocks were among the biggest drags on both the indexes, with the Nifty PSU Bank index and the Nifty Energy index closing down 2 percent and 1.2 percent, respectively.
"A little bit of uncertainty is there with the ongoing trade spats and there are no cues this week apart from F&O expiry which is creating some volatility," said Hitesh Agarwal, EVP and Head - Retail Research, Religare Broking.
"Over the past few weeks, Nifty is hovering around the 10,500-10,800 range and as of now there are no directional triggers for Nifty to move either ways. Probably, if the monsoon picks up some momentum, that could help the markets go towards the 11,000 mark," Agarwal added.
Tata Motors Ltd, down as much as 4.1 percent at more than a two-week low, was the top percentage loser on both the indexes. US President Donald Trump on Friday threatened to impose a 20 percent tariff on all US imports of European Union-assembled cars.
Analysts expect vehicles of Britain's biggest automaker Jaguar Land Rover, which is also Tata Motors' largest business, exported to the US to take a big hit if Trump imposes tariffs.
Top oil refiners such as Bharat Petroleum Corp Ltd, Hindustan Petroleum Corp Ltd and Indian Oil Corp Ltd, down more than 2.5 percent each, were among the top percentage losers on the NSE index.
Shares of PNB Housing Finance Ltd gained as much as 14.1 percent, marking their biggest ever intraday percent gain, after Economic Times reported that Housing Development Finance Corp Ltd and Kotak Mahindra Bank Ltd are competing for a controlling stake in the company. HDFC CEO Keki Mistry told Reuters in an email that the company is not looking at acquiring a controlling stake in the smaller housing finance rival.