Indian shares fall

Indian shares closed 1 percent lower on Monday, dragged by oil marketing companies and financials, while investors were cautious ahead of key inflation data due later in the day. The benchmark BSE index fell 0.98 percent to 34,812.99, while the broader NSE index declined 0.97 percent to 10,482.2. Both indexes closed lower for a second straight session.
Hindustan Petroleum Corp Ltd was the top percentage loser on the NSE index with a drop of 6.73 percent, while Indian Oil Corp Ltd fell 4.66 percent. Brent crude futures gained as much as 2.42 percent. Bajaj Finance Ltd closed 4 percent lower.
Several factors, including the uncertainty around liquidity of non-banking financial companies, upcoming elections and ongoing corporate earnings, are bound to keep the market volatile, said Siddharth Sedani, head of equity advisory at brokerage firm Anand Rathi.
Investors in Indian shares were also cautious ahead of October's inflation data. A Retuers poll found retail inflation likely slowed to its slowest pace in 12 months in October after food and fuel costs fell, keeping the official consumer prices gauge below the central bank's medium-term target for a third consecutive month.
The Indian rupee weakened 0.68 percent to 72.97 against the dollar, pushing IT shares higher.
Shares of software services exporters Infosys Ltd climbed 2.4 percent, while those of larger rival Tata Consultancy Services Ltd rose 1.4 percent.
Tech Mahindra Ltd's stock jumped 3.4 percent.
Jeweller Titan Company Ltd, up 4.2 percent, was the top percentage gainer on the NSE index. The company reported strong quarterly revenue growth on Friday.
Shares in Tata Motors Ltd, owner of Jaguar Land Rover (JLR), slipped 3.4 percent to a one-week low after JLR total retail sales fell 4.6 pct in October.
The Nifty Auto index fell 1.2 percent, as Maruti Suzuki India Ltd also logged losses to the tune of 1.5 percent.
The financial sector was under pressure, with the Nifty PSU Bank index declining 1.9 percent to its lowest since Oct 31. Top lender State Bank of India's stock fell 1.6 percent, while private sector-lenders ICICI Bank Ltd and Yes Bank Ltd slipped 1.1 percent and 3 percent, respectively.