Indian stocks fell for a fourth consecutive session on Monday, erasing gains earlier in the day as European shares were hit by sagging commodity prices and on caution ahead of a likely increase in U.S. interest rates as early as June.

 

The broader NSE Nifty fell 0.24 percent to 7,731.05, after rising as much as 0.91 percent earlier in the session. The index has lost nearly 2 percent over the previous three sessions.

 

The benchmark BSE Sensex fell 0.28 percent to end at 25,230.36.

 

ITC however surged 4.99 percent after posting stronger-than-expected operating earnings.

 

Shares of Cox & Kings plunged 14 per cent after the company reported a loss in Q4FY16 worth Rs 305.33 crore against a profit of Rs 64.56 crore in the same quarter the previous fiscal. The company however, posted a 14.8 per cent growth in its total income from operations in the quarter on a year-on-year basis.

 

Overall, market breadth remained in the favour of decliners, as 1,075 shares ended the day in green while 1,512 closed the day in red.