MUMBAI (Reuters) - The BSE Sensex and Nifty fell more than 1 percent on Monday, tracking weaker regional markets as fears about an earlier-than-expected U.S. rate hike weighed on sentiment, while cigarette-maker ITC Ltd slumped after disappointing earnings.
Federal Reserve Chair Janet Yellen indicated on Friday the U.S. central bank was poised to raise interest rates this year if the world's top economy improved as expected.
Caution also prevailed ahead of GDP growth data due on Friday. Domestic shares have been on a solid path so far this month, recovering from a volatile April amid continued hopes of an economic recovery.
The BSE Sensex fell 1.12 percent to end at 27,643.88, while the Nifty dropped 1.05 percent to close at 8,370.25. ITC fell 3.75 percent.
(Reporting by Rafael Nam and Neha Dasgupta; Editing by Prateek Chatterjee)
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