Indian shares fell on Monday as rising oil prices and a weakening rupee added to woes during the earnings season, amid weak Asian cues.
Asian shares slipped as worries over Sino-U.S. trade disputes, a possible slowdown in the Chinese economy and higher U.S. borrowing costs tempered optimism despite a rebound in global equities late last week.
Brent crude rose 1.26 percent to 81.44 a barrel by 0424 GMT, on track for its biggest daily gain since Oct. 9.
The Indian rupee fell to 73.93 against the dollar, compared with its previous close of 73.60.
"Oil and rupee are driving markets as of now. A weak rupee impacts our fiscal deficit... Inflation and IIP data, both were relatively better," said Anita Gandhi, wholetime director, Arihant Capital Markets.
The broader NSE Nifty was down 0.49 percent at 10,421.45 as of 0547 GMT, while the benchmark BSE Sensex was trading 0.40 percent lower at 34,594.28.
Volatility is likely to continue during the earnings season, Gandhi added.
Market heavyweights Infosys Ltd and Reliance Industries Ltd are due to report earnings for the September quarter on Tuesday and Wednesday, respectively.
India's retail inflation rose marginally in September, nudged up by food and fuel prices, but short of the central bank's 4 percent medium-term target, according to data released on Friday.
Consumer stocks dragged as Hindustan Unilever Ltd and Avenue Supermarts Ltd fell on analysts raising concerns over the margin dip in these companies, despite posting higher profit in September quarter.
Financial stocks also pulled the index lower, with ICICI Bank and Axis Bank being among the top drags.
The weaker rupee boosted the IT and pharma sectors. Nifty Pharma index was trading 1.8 percent higher, driven by Dr. Reddy's Laboratories' stock which rose 4.1 percent.