Reuters Market Eye - The BSE Sensex falls 0.8 percent, while the 50-share Nifty declines 0.9 percent. Losses in RIL, L&T and ICICI weigh.
Asian stocks edge lower and other riskier assets such as commodities fall as investors remained cautious about the outlook for the global economy and corporate earnings despite better-than-expected U.S. jobs numbers at the end of last week.
Reliance Industries falls over 3 percent after Morgan Stanley cuts its rating to 'underweight' from 'equal-weight', citing expectations for weaker refining margins and valuation concerns among other factors.
Housing finance companies gain after India's markets regulator on Saturday allowed debt-oriented mutual funds to invest up to 10 percent of their net assets in housing finance companies.
LIC Housing Finance (LICH.NS) gains 0.22 percent, Housing development and Finance Corp is up 0.5 percent.
Trending On Reuters
Two founding members of anti-establishment political Aam Aadmi Party (AAP) were ousted from its top decision-making panel on Saturday, deepening the rift in the party that is seen as a potential challenger to Prime Minister Narendra Modi. Full Article
Iran, powers close in on 2-3 page nuclear deal; success uncertain - officials Full Article