Indian shares fell on Monday, tracking losses across Asia as oil surged above $100 a barrel ahead of a U.S. blockade of Iran’s ports after weekend talks between the two countries failed to yield a deal to end the war. The Nifty 50 fell 0.86% to 23,842.65 and the Sensex slid 0.91% to 76,847.57. Both indexes regained some ground after dropping about 2.1% earlier in the session. Other Asian markets fell 0.9%. “We don’t think it is fair to expect a deal (between Iran and U.S.) in one sitting. From markets’ perspective, the recovery last week indicated that worst is over for Indian equities unless there is a significant escalation,” said Arun Malhotra, fund manager at CapGrow Capital. The benchmarks had risen about 6% last week, marking their strongest weekly performance in more than five years as investors took comfort from a fragile U.S.-Iran ceasefire. Malhotra expects volatility to remain elevated, with markets driven by headline risks. The Nifty volatility index jumped to 20.5 from 18.