The Indian market closed the first session of the week in the red, with market breadth firmly in favour of declines. The benchmark index, Sensex, closed 219 points lower at 35,470, with ICICI Bank, L&T being the worst performers while the Nifty fell 59 points to 10,762.

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In the broader market indices, Nifty Bank and Nifty Midcap index saw a fall of 0.5% each. Only seven of the 50 Nifty stocks closed in the green, with Infosys being the biggest gainer.

ICICI Bank dragged the Nifty by 18 points after bank issued clarification regarding a complaint alleging irregularities in financial statements in the month of May.

Another top Loser, Tata Motors saw a fall of over 6% as JLR expects its overall sales volume growth to remain subdued in the near term.

Ajay Srivastava of Dimensions Corp Fin expects auto ancillary to outperform Tata Motors if the sector sees a turnaround.

Futures market have also reflected a weak sentiment. Nifty 10,700 and 10,600 Put options shed five lakh and three lakh shares each in the open interest with premiums surging 17% and 49% respectively.

While call options of 10,800 and 10,900 saw major traction. Both the options saw an addition of 15 lakh and 13 lakh shares each in the open interest with premium slipping 57 and 64% respectively.

Nifty June Futures closed with a discount of 3 points against a premium of 12 points on Friday.

On the global front, Asian markets were mostly down as investors attempted to shake off jitters about trade tensions between the United States and China.

In Australia, the benchmark ASX 200 fell 0.2% to 6,210.4 as the heavily weighted financial sector declined 1%. Japan's Nikkei 225 declined 0.8% to 22,338 while the Topix Index fell about 1% to 1,728 points. The Kospi finished near flat at 2,358 points, while Hong Kong's Hang Seng index fell 1.3%.

Chinese mainland markets erased early gains to close in the red. The Shanghai composite fell 1% to 2,860 points while the Shenzhen composite index lost 0.6% to close at 1,587 points.