India, Feb. 27 -- Indian shares fell on Friday in broad-based declines led by financials, with benchmark indexes posting their third monthly decline, while IT stocks marked their worst month since September 2008 on fears that artificial intelligence could erode their earnings.

The selloff in IT overshadowed improving corporate earnings and easing trade tensions after India sealed a key trade deal with the European Union and reached an interim framework for an agreement with the U.S.

On the day, the Nifty 50 fell 1.25% to 25,178.65 and the BSE Sensex dropped 1.17% to 81,287.19. Heavyweight financials slid 1.6%, leading the losses.

For the month, the Nifty shed 0.6%, while the Sensex declined 1.2%.

The IT index tumbled 19.5% in February...