Sensex, Nifty down on concerns over Cyprus deal

The BSE Sensex was down over 150 points on Monday tracking weak global cues. The Nifty traded below the 5,850 mark.

Domestic shares fell in line with Asian shares that retreated 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 fell 2.1 per cent, Axis Bank was down 1 per cent.

Coal India shares were down over 5 per cent, on a media report that the government was looking to accelerate a 10 per cent stake sale in the world's largest coal miner.

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