MUMBAI: Indian shares fell on Monday as financials and IT declined due to weak results from Kotak Mahindra Bank and Tata Consultancy Services’ layoff plans, respectively, and as uncertainty over trade talks with the US hit overall sentiment.
The Nifty 50 fell 0.63% to 24,680.9 points, and the BSE Sensex lost 0.7% to 80,891.02. The broader small-caps and mid-caps lost 1.3% and 0.8%, respectively.
Negotiations between India and the United States remained deadlocked over tariff cuts on agriculture and dairy products, dimming hopes of an interim deal ahead of US President Donald Trump’s August 1 deadline.
However, a framework trade agreement between the US and European Union eased fears of a bigger trade war between the two allies, which account for almost a third of global trade.