Indian benchmark indices ended lower on Monday, amid subdued Asian peers, dragged by financials after banking bellwether HDFC Bank reported a slowdown in loan growth and a hit to asset quality. Weak June quarter earnings and continued selling by foreign investors kept the investor sentiment negative.

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Meanwhile, Broader Asian stocks were also under pressure as investors trimmed expectations of an aggressive US interest rate cut, while oil prices climbed after tensions in the Middle East escalated and Libya reported the shutdown of its largest oil field.

The Sensex ended 306 points lower at 38,031, while the broader Nifty50 index lost 82 points to end at 11,337. In broader markets, the Nifty Midcap and the Nifty Smallcap index fell 0.6 percent and 1.6 percent, respectively.

YES Bank, Hindalco, Vedanta, Indiabulls Housing, and Zee were top gainers on the Nifty50, while Bajaj Finserv, HDFC, Kotak Bank, Eicher Motors, and HDFC Bank led the losses.

Sectoral indices ended mixed for the day. The Nifty Fin Services index lost 2.6 percent followed by the Nifty Bank which was down 1.7 percent. Nifty Private Bank index declined 1.6 percent, while, the Nifty Realty and the Nifty FMCG indices fell around 1 percent each.

Among gainers, Nifty Media and Nifty Metal gained nearly 1.5-2 percent. Nifty Pharma was up 1 percent, whereas, Nifty Auto and Nifty IT rose around 0.3 percent each.

HDFC Bank fell 3.1 percent after its asset quality worsened and loan growth eased, in signs that the slowdown in economic growth was hurting some of the biggest companies in the country. The lender’s quarterly profit rose slightly lower than Street estimate. HDFC, its larget shareholder, also dropped 5.2 percent during the day.

Kotak Bank also lost 3.6 percent ahead of its earnings later today.

Meanwhile, YES Bank gained 9.5 percent after Economic Times reported that Dewan Housing Finance Limited is likely to announce a deal with investor Aion Capital for a majority stake in the housing finance company.