Sensex falls more than 1 percent on global risk-off trade

REUTERS - The BSE Sensex fell more than 1 percent on Monday to post its biggest daily decline in 2-1/2 weeks as European shares were hit hard by persistent concerns about the pace of global economic growth.

The falls came late in the session, and more than offset earlier gains when metal firms such as Tata Steel and lenders rallied after the country set minimum import prices for steel products.

The broader Nifty ended 1.36 percent lower, after earlier gaining as much as 0.31 percent. It was its biggest decline since Jan. 20.

The Sensex lost 1.34 percent.

(Reporting By Manoj Rawal; Editing by Sunil Nair)