Indian shares fall as oil prices and rate concerns weigh on investors

Indian stocks extended a four-session decline Monday as elevated crude prices and stronger-than-expected U.S. job growth raised expectations of a Federal Reserve rate hike next week. The Nifty 50 fell 0.57% to 23,779, while the Sensex dropped 0.5% to 76,132.

Technology shares led the losses amid concerns that higher U.S. interest rates could reduce client spending and weigh on Indian information-technology companies. Pharma stocks gained 0.6%, while realty, metals, state-owned banks, cement, oil and gas, and consumer-goods shares declined.

Brent crude approached $97 a barrel, its highest level in six weeks, as tensions involving the Middle East added to inflation concerns. Asian markets were mixed, with sharp gains in Japan and South Korea contrasting with losses in Hong Kong.

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