Indian shares were subdued on Monday, extending last week's cautious sentiment, as a lack of progress toward ending the Iran war kept crude oil prices elevated.
The Nifty 50 (.NSEI) fell 0.34% to 24,282.45 and the BSE Sensex (.BSESN) lost 0.46% to 77,647, as of 9:35 a.m. IST.
Nine of the 16 major sectors logged losses. The broader small-caps (.NIFSMCP100) and mid-caps (.NIFMDCP100) traded flat.
"This week lacks major domestic triggers as the earnings season has concluded. However, developments on the U.S.-Iran front will drive volatility as higher crude prices remain a key concern, countering any market optimism," said Santosh Meena, head of research at Swastika Investmart.
Iran called on the U.S. to accept defeat on Saturday, while President Donald Trump called Tehran "very evil" and told Americans to prepare for continued high fuel prices as a result of the war.
MSCI's broader index for Asia-Pacific stocks outside Japan (.MIAPJ0000PUS) was little changed on Monday, while investors kept a wary eye on oil prices.
Brent crude futures hovered around $89 per barrel, up 0.5%.
Among stocks, pharma firm Orchid Pharma (ORCD.NS) fell 9.7% after reporting a drop in the June quarter profit.
Drug maker Dr. Reddy's Laboratories (REDY.NS) lost 2% after the U.S. drug regulator issued four observations to its unit in Bachupally, after an inspection from August 6-14.
Construction firm Ahluwalia Contracts (AHLU.NS) shed 7% on posting an 80% drop in quarterly profit.
Glassware maker Borosil fell 3% after logging a 26.4% drop in first-quarter profit.
Railway engineering firm Jupiter Wagons shed 2.5% after registering about a 15% fall in June-quarter profit.
Metal castings maker PTC Industries (PCIN.NS) jumped 3.9% after posting a nearly six-fold rise in quarterly profit.
Hindustan Aeronautics (HIAE.NS) gained 2.2% after the defence firm signed a pact with Adani Defence and BEML for manufacturing fuselage structures for light combat helicopters.
