The NSE Nifty 50 index was down 0.12% at 17,376.90, as of 0353 GMT, and the S&P BSE Sensex fell 0.11% to 58,323.48. The benchmark indexes on Friday had logged their third straight weekly gain, advancing 1.4% each.
Shares of State Bank of India were down after the bank on Saturday missed estimates with a 6.7% fall in first-quarter net profit hit by investment losses.
The Indian rupee opened lower against the dollar on Monday, tracking broad decline in Asian peers. [IN/]
Equities in broader Asia were subdued on Monday following a solid U.S. payrolls data that pushed back against talk of recession but also bolstered the case for more super-sized rate hikes. [MKTS/GLOB]
(Reporting by Rama Venkat in Bengaluru;editing by Neha Arora)