MARKET EYE-Indian shares edge lower; Reliance falls

* The BSE index

fall 0.24 percent, while the 50-share NSE index

declines 0.32 percent. * Asian stocks edge lower and other riskier assets such as commodities fall as investors remained cautious about the outlook for the global economy and corporate earnings despite better-than-expected U.S. jobs numbers at the end of last week.

* Reliance Industries

falls 1.8 percent after Morgan Stanley cuts its rating to 'underweight' from 'equal-weight', citing expectations for weaker refining margins and valuation concerns among other factors.

* Housing finance companies gain after India's markets regulator on Saturday allowed debt-oriented mutual funds to invest up to 10 percent of their net assets in housing finance companies.

* LIC Housing Finance gains 1.7 percent, Housing development and Finance Corp is up 0.6 percent.