Indian shares recovered from over 2 percent lows but still ended in the red on Monday after Prime Minister Narendra Modi's heavy defeat in Bihar's state elections raised concerns the government would struggle to pass policy reforms. The benchmark BSE index ended 0.55 percent lower after falling as much as 2.32 percent while the broader NSE index ended 0.49 percent lower after falling as much as 2.35 percent earlier in the day.
Gains in auto and consumer goods stocks helped cushion losses in financial and pharmaceutical stocks. Both indices hit their lowest intra-day level since September 29 and have booked losses in 10 out of 11 sessions.