Reuters Market Eye - The BSE Sensex is down around 150 points in trade. Domestic shares fall in line with Asian shares that fell on Monday as investors were rattled by a radical bailout plan for Cyprus.
India's sustained food inflation is a negative for the country's sovereign ratings as it exacerbates macroeconomic imbalances, Moody's Investors Service said in a report on Monday.
Private bank shares leading the fall on concerns over money laundering allegations made last week: ICICI Bank shares fall 2.1 percent, Axis Bank is down 1 percent.
Coal India Ltd shares down over 5 percent, on a media report that the government was looking to accelerate a 10 percent stake sale in the world's largest coal miner.
(Reporting by Manoj Dharra)
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