Indian shares ended lower on Monday clouded by weak corporate results, while bond yields fell after the finance minister said the government did not intend to review its overseas borrowing plan.

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Global shares eased as markets counted down to a likely cut in US interest rates this week, with much riding on whether the Federal Reserve signals yet more are to come.

The Sensex ended 196 points lower at 37,686, while the broader Nifty50 index lost 95 points to end at 11,189. In broader markets, the Nifty Midcap and Nifty Smallcap indices fell over one percent each.

ICICI Bank, IndusInd Bank, HCL Tech, TCS, and Infosys were top gainers on the Nifty50, while Indiabulls Housing, Grasim Industries, Tata Motors, Vedanta, and Bharti Infratel led the losses.

All sectoral indices, except Nifty IT, ended lower for the day. The Nifty Auto index fell the most, down 3.6 percent, followed by Media, down 3.3 percent. Nifty Metal declined 3 percent, while, Nifty Pharma fell 1.7 percent for the day. Nifty Realty also lost 0.9 percent.

Auto stocks declined after reports that the government had proposed a hike in vehicle renewal and registration charges. Moreover, the government has also lowered the GST rate on electric vehicles to boost sales of electric vehicles. Tata Motors, TVS Motor Company, Bajaj Auto, Eicher Motors and Maruti Suzuki were down in the range of 4.5-6.5 percent.

Indiabulls Group stocks were under pressure after a media report said that in a letter to Prime Minister Narendra Modi, BJP leader Subramanian Swamy had accused the group of embezzling Rs 1 lakh crore. Indiabulls Housing Finance plunged 12 percent, while Indiabulls Real Estate and Indiabulls Ventures slipped over 6 percent and 5 percent, respectively.

Shares of Vodafone India slumped 28.8 percent to Rs 6.77 after the telecom operator reported a loss in the quarter ended June 30. The company has posted a net loss at Rs 4,873.9 crore in the Q1FY20 against Rs 4,881.9 crore loss in the quarter ended March 2019.

ICICI Bank shares rose 3 percent after the private sector lender posted a standalone net profit of Rs 1,908 crore for the first quarter ended June 2019 as compared to a net loss of Rs 120 crore in the same quarter a year ago.