Reuters Market Eye - The BSE Sensex falls 0.35 percent after earlier rising as much as 0.4 percent, while the broader Nifty is down 0.56 percent.
Banking stocks fall on risk aversion ahead of the central bank's policy review on Tuesday where it is widely expected to raise interest rates by 25 basis points, while U.S. Federal Reserve holds its policy meeting on October 29-30.
State Bank of India Ltd falls 2 percent, while HDFC Bank Ltd is down 0.5 percent.
The expiry of the October derivative contracts on October 31 could further add to the volatility, traders say.
Consumer goods shares fall as July-September sales volume growth fails to surprise, analysts say.
ITC Ltd is down 3.4 percent while Hindustan Unilever Ltd falls 0.9 percent after earlier rising as much as 4.2 percent.
(Reporting by Abhishek Vishnoi)
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