Reuters Market Eye - The Nifty falls 1.1 percent after rising to a record high of 8,535.35, heads towards biggest single-day decline since Oct.16
India's biggest cigarette maker ITC slumps 4.9 pct to head towards biggest single-day fall since July 2014.
A government panel has recommended a ban on sale of loose cigarettes.
Worries over potential delay in insurance bill and new offshore derivative rules also weigh.
(Reporting by Abhishek Vishnoi)