Indian equity indices extended losses on Monday as trade war concerns escalated and rupee weakened further against the US dollar.

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The BSE Sensex gave up the 37,000 mark, dipping nearly 291 points to trade at 36,550.86 at 11.40 am. The NSE Nifty50 held the 11,000 mark, trading at 11,045.35, down by nearly 98 points.

Midcaps fell sharply, declining by more than 2 percent. The Nifty MidCap slumped 2.44 percent, while the BSE MidCap tanked 2.10 percent. BSE LargeCap fell 1.23 percent.

Sharp selling gripped all sectoral indices on the NSE except IT, which surged 2.31 percent. Others declined by up to 5 percent with realty leading the pack.

Among BSE sectoral indices, teck, oil & gas, energy and IT traded positive. Others fell by up to 5 percent. Consumer durables fell 2.13 percent, auto dipped 3.41 percent and finance lost 2.89 percent.

Gainers among stocks included Tech Mahindra, TCS, Infosys, all rising more than 3 percent, while Coal India, ONGC and NTPC went up to 2.22 percent.

Financials, auto, telecom stocks led among the laggards. Bajaj Finance slumped 7.77 percent, Vodafone Idea 6.5 percent, M&M 5.46 percent, HDFC and Eicher Motors nearly 5 percent. Other losers were Maruti Suzuki, IndusInd Bank and Adani Ports, dipping by 4.23 percent.

The Indian rupee opened weaker against the US dollar at Rs 72.47 against Friday's close of 72.21. At 12 pm, the home currency traded at 72.66 against the greenback.

Among Asian stocks, Hang Seng shed 1.31 percent as the Chinese government decided to cancel talks with the US, raising fears of a protracted trade war.

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