On Friday, she said she will try to form a minority government with the support of a small Northern Ireland party, the Democratic Unionist Party.
In the previous election, the Conservative Party won 330 seats and now it will not receive more than 320.
The DUP, whose 10 seats would allow the government to get measures through Parliament, is a socially conservative pro-British Protestant group that opposes abortion and same-sex marriage and includes both environmentalists and climate-change deniers among its senior ranks.
Earlier, Downing Street issued a statement saying the DUP had agreed to the principles of a proposal to support the Conservatives.
Downing Street and the DUP issued separate statements overnight, emphasising that the deal between them had not yet been finalised.
Her Labour rival Jeremy Corbyn said she should step down.
"I think its quite possible there'll be an election later this year or early next year, and that might be a good thing, because we can not go on with a period of great instability", he told the BBC's Andrew Marr on Sunday.
He said there was a "possibility" of voting down the Queen's Speech and Labour were going to "push all the way" to achieve that.
This is more than the total of Labour, Lib Dems, SNP, Plaid Cymru and Green Party.
A very personalized, nearly presidential style of campaigning has contributed to the Conservative Party's loss of support, said Mark Goodwin, lecturer at the department of political science and worldwide studies at the University of Birmingham in England.
Far from the strong and stable government promised by the PM, the chaotic events of the last few days have seen calls for May's resignation, while her top two advisors have quit in the wake of the result.
South Korea says it will abide by United States missile defense agreement
It added that the missiles were 'accurately detected and hit the floating targets on the East Sea of Korea'. Since the beginning of 2016, Pyongyang has carried out dozens of rocket tests and two nuclear tests.
George Osborne, editor of the Evening Standard and the former British chancellor, called May a "dead woman walking". "He's in a permanent leadership campaign so I am not sure it qualifies as news", he said.
None of the parties got a majority in the House of Commons.
The DUP favors Brexit but wants to preserve its open border with the Republic of Ireland, an EU member even after Britain leaves the European Union.
But some within the party are calling for her to go.
Conservative MP Alastair Burt told 1 NEWS "there were plenty of voices in the conservative party that reminded her that you can't run the government like you run the home office".
"I can still be prime minister".
Pressure is now also coming from the public.
She said she "obviously wanted a different result" and felt "sorry" for colleagues who lost their seats.
The leader of DUP said on Sunday talks were ongoing with May with a view to supporting their minority government.
Those talks, expected to be the most complex in post-World War Two European history, are supposed to wrap up before the end of March 2019, the date when Britain is officially scheduled to leave the bloc - a timeline that was already considered ambitious before May's electoral debacle.
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